PhonePe Showcases UPI Services in Nepal, Fostering Cross-Border Digital Payments

PhonePe India recently hosted a significant event in Kathmandu, Nepal, showcasing its services based on the Unified Payments Interface (UPI) platform. The event was attended by key figures from Nepal's financial sector, including banking and payment system representatives, UPI merchants, and business association members. Fonepay Payment Service Limited, a major payment system operator in Nepal and a partner of NIPL, supported the event.

The event featured a keynote by Diwas Sapkota, CEO of FonePay Network, discussing UPI's potential to transform Nepal’s digital economy. A panel discussion followed, focusing on the impact of cross-border payments on Nepal’s economy, involving experts from various sectors.

The panelists discussed the benefits of UPI in enhancing the tourist experience through convenient cashless transactions and explored its impact on the business models of financial institutions.

Ritesh Pai, CEO of International Payments at PhonePe, led a product showcase, highlighting PhonePe's evolution and its role in democratizing payments in India. He discussed the benefits for Indian tourists in Nepal who can use UPI for payments at various merchants enrolled in the Fonepay QR scheme.

The event underscored the collaborative efforts in promoting UPI in Nepal, which is expected to facilitate easier transactions for tourists and boost the local economy through digital payments. This initiative aligns with Fonepay's goal of enabling cross-border payments and enhancing digital financial inclusion in Nepal.