Mr. Maha Prasad Adhikari, Governor of Nepal Rastra Bank has unveiled the first cross border QR payment between Nepal and India at the Global Fintech Fest 2023. He shared Nepals’s journey towards a more inclusive financial landscape through fintech innovations.
The collaboration between Fonepay and NIPL will empower millions of citizens in both nations to securely and conveniently make instant payments through QR codes at various stores, using the mobile application certified by Fonepay and NPCI. The agreement was signed at the Global Fintech Fest 2023, a global gathering of fintech visionaries, thought leaders and innovators.
Both companies have completed their operational preparations, with technological integration now in its final stages. Following this, the companies will be ready to offer the service to their issuing and acquiring members, enabling consumers and merchants to enjoy the benefits of this service.
There is a belief in both countries that the strategic partnership between the two companies will significantly enhance the digital payments ecosystem in both countries and serve as a pivotal milestone for expanding their presence in the international market.
“This remarkable launch marks a significant step towards enhancing financial connectivity between Nepal and India by leveraging technology for the benefit of our citizens. I am confident that this initiative will significantly contribute to the growth of trade, tourism, and economic relations between both countries, ultimately fostering prosperity and development,” said the chair of Fonepay and President of F1Soft Group, Biswas Dhakal.
