PhonePe Introduces UPI Services in Nepal, Revolutionizing Digital Payments
New Delhi: PhonePe, a leading Indian digital payment platform, has introduced its services in Nepal powered by the Unified Payments Interface (UPI). The move aims to revolutionize Nepal’s digital payment landscape. The unveiling took place in Kathmandu, Nepal, at a special event attended by key stakeholders from various sectors of the Nepalese financial ecosystem, including banking sectors, payment system providers, UPI-accepting merchants, and business associations.
At the event, PhonePe showcased the potential of UPI for Nepal’s burgeoning digital economy. Diwas Sapkota, CEO of FonePay Network, highlighted the significance of this development, emphasizing how UPI could revolutionize Nepal’s financial landscape.
The event featured a panel discussion on the impact of cross-border payments on Nepal’s economy. Esteemed panellists from leading financial institutions and organizations discussed various aspects such as regulatory challenges, consumer experience, and macroeconomic implications.
Ritesh Pai, CEO of International Payments at PhonePe, expressed excitement about the collaboration, stating, “We’re thrilled to be showcasing services powered by UPI in Nepal.” He highlighted the benefits for Indian tourists visiting Nepal, enabling them to enjoy seamless cashless transactions using UPI-powered apps like PhonePe.
Addressing the audience, Diwas Kumar, CEO of Fonepay Nepal, expressed pride in bringing UPI payments to Nepal after years of effort. He emphasized the potential of digital transactions to drive economic growth and financial inclusion in the country.
With UPI now live in Nepal, facilitated by Fonepay’s partnership with NPCI International, the stage is set for a digital revolution that promises to benefit merchants, businesses, and consumers alike.
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