- Nabil Bank and Gateway Payment collaboration brings India’s revolutionary UPI payment system
- This brings interoperable and cross-border payment for both Nepali and Indian subscribers
Nepal’s leading commercial bank Nabil Bank and Gateway Payment Service (Payment Nepal) have signed a partnership to implement the UPI that allows cross-border payments. UPI (United Payment Interface) is the revolutionary real-time payment system launched by the National Payment Corporation of India for online payments.
The CEOs of Nabil Bank CEO and Gateway Payment Service, respectively Anil Keshary Shah and Rajesh Prasad Manandhar signed the agreement papers.
This collaboration will allow Nepalese in India to pay for services using Nabil UPI QR. Meanwhile, Indian nationals would also be able to pay via their mobile apps in Nepal. Gateway Payment launched the UPI system only three months ago in Nepal. But it is expanding at a pace for interoperable and cross-border payments.
Also read: Digital Payment System Integration Between Nepal And India Process Started
How will it benefit users?
The collaboration between Nabil Bank and Gateway Payment will enable Nepalese to perform cross-border transactions. The users of Nabil Bank can securely pay for services in India. For this, they need to have the official Nabil SmartBank app.
Likewise, merchants who subscribe to the Nabil UPI QR will be able to receive payments through India payment gateways like PhonePe, Google Pay, Paytm, etc. Don’t miss: Khalti Finally Integrates FonePay Scan to Aid Digital Payment
Nabil Bank is one of the leading commercial banks in Nepal. The bank has 150 branches, 187 ATMs, and 1,500 Nabil Remit Agents around Nepal. It is leading the initiative of financial inclusivity by transforming its services online.