New Delhi (India), 09 June: NPCI International Payments Limited (NIPL) and Nepal Clearing House Ltd. (NCHL) have announced the launch of payment linkage between India’s Unified Payments Interface (UPI) and Nepal’s National Payments Interface (NPI) platforms.
This partnership enables real-time, low-cost, and secure cross-border remittances between India and Nepal, allowing Indian and Nepalese users in India and Indian users in Nepal to make seamless person-to-person (P2P) transfers.
Now live through select banks, the service will soon be expanded to additional banks, further enhancing accessibility across a wide range of financial institutions.
The UPI-NPI linkage represents a major advancement in financial inclusion, fostering stronger economic and digital ties between India and Nepal.
The payment gateway authority said in a release that this project aligns with the G20's goals for accessible and affordable cross-border payments, facilitating a direct connection between the fast-payment systems of both countries, thereby reinforcing the longstanding social, cultural, and economic bonds shared by India and Nepal.
Indian and Nepalese users can now send money to Nepal using the receivers’ mobile numbers or virtual payment addresses (VPAs), while Indian users can transfer funds to India from Nepal using UPI IDs.
This process removes the need to share sensitive bank account information, offering a simplified, secure, and convenient experience for users on both sides of the border.
Through this innovative service, the UPI-NPI linkage ensures that transactions occur in real time, providing critical support to millions of families who depend on timely remittances.
By significantly reducing the costs associated with traditional cross-border remittance methods, the new linkage offers a cost-effective, transparent solution to individuals and families sending funds across borders.
This initiative supports the resilience of the financial ecosystems in both countries, setting a precedent for future cross-border digital payment collaborations. Through this project, India and Nepal are creating a powerful model for interoperable, real-time payment systems that other geographies can emulate, the authority further added in the release.
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