Nepal adopts India’s UPI for digital transactions

A government periodical ‘New India Samachar’ in its latest edition said Nepal has adopted the unified payment interface developed by India for digital transactions. Earlier this year, Bhutan also launched a BHIM-UPI based payment system.

“Many countries praised the CoWin app, which was created for vaccination during the first Covid period, and Nepal has now adopted India’s UPI (Unified Payment Interface) for digital transactions. It will bolster interoperable real-time person-to-person (P2P) and person to-merchant (P2M) transactions. As a result of this, the people of Nepal will benefit from the best facility for easy digital payments,” read the article written in New India Samachar.

According to official data provided by the National Payments Corporation of India, Bharat Interface for Money-Unified Payments Interface (BHIM-UPI) has achieved a record of 4,527.9 million digital payment transactions with the value of Rs 8,26,843 crore till February 28, 2022.