Everest Bank and Nepal Clearing House Limited have reached an agreement that allows the bank’s merchants to receive QR payments from Indian citizens in Nepal via BHIM UPI, PhonePe, Google Pay, etc. The two entities have signed a memorandum of understanding ratifying this milestone cooperation.
The agreement papers were signed by the Chief Executive Officers of Everest Bank and Nepal Clearing House, Sudesh Khaling, and Nileshman Singh Pradhan, respectively.
The agreement allows Everest Bank to enable its merchants to receive payments from Indian citizens in Nepal with QR.
Everest Bank serves as a settlement bank and a participating member in this regard.
The cross-border Nepal-India payment has commenced and eSewa and Khalti merchants can easily receive payments from Indian users via Fonepay QR scan. Now, more banks and financial institutions are stepping up efforts to provide the same service via their digital platforms.
Check out: Top 5 Digital Wallets in Nepal: Find their top features
Everest Bank enables merchants to receive payments from Indian digital wallets
Thanks to its cooperation with NCHL, Everest Bank now allows its merchants to receive payments from visiting Indian nationals in India. With this, Indian tourists or visitors in Nepal can seamlessly pay at Everest Bank merchants (that can be departmental stores, or any shop or restaurant) by using PhonePe, GooglePay, and BHIM App.
For this, Everest Bank customers need to register and acquire a QR standee from the bank. You need to fill out a form such as below to apply for a QR code from the bank.
Everest Bank expects that facilitating its merchants for receiving payments from Indian citizens will ease off students, retailers, and other enterprises from seamless payments.
