Nepalis to get QR payment access in India as cross-border system moves towards operationalisation
Summary
Nepal and India have initiated a peer-to-peer cross-border digital payment system allowing individuals to transfer money directly through linked payment platforms. Nepali citizens will now get QR payment access in India, enhancing financial connectivity between the two nations.
Key Points
- Nepal and India announced operationalisation of peer-to-peer cross-border digital payments.
- The new system enables direct money transfers between individuals in both countries via linked payment systems.
- Nepali citizens travelling to India will gain access to QR code payment facilities.
- The payment system is based on an MoU signed in June 2023 between Nepal Clearing House Limited and National Payments Corporation of India.
