Seamless Cross-Border Payments: A Game-Changer for Indian Travelers in Nepal.

03 March 2024

Introduction

Welcome to the new era of hassle-free international payments for Indian citizens traveling to Nepal! Exciting news has emerged in the financial world, making it incredibly convenient for Indian tourists to make payments directly from their mobile devices while exploring the beauty of Nepal.

 In this blog post, we'll delve into the recent collaboration between Fonepay Payment Service Ltd., Khalti, and NPCI International Payments Ltd, which has paved the way for a seamless cross-border payment experience.

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What's the Buzz About:

 Imagine you're in the midst of Nepal's stunning landscapes, craving a local treat, or picking up a souvenir. Now, thanks to a big announcement at the Global Fintech Fest 2023, Indian travelers can enjoy the convenience of mobile payments while soaking in Nepal's beauty. The agreement between Nepal's Fonepay and India's NPCI International Payments Ltd (NIPL) to enable seamless digital payments was formally announced at GFF 2023. This marked a significant milestone for both countries, opening up a new era of effortless transactions and enhancing the experience for tourists exploring Nepal's wonders.

 Nepal partners

1. Fonepay Payment Service Ltd.: Fonepay Payment Service is making it easier for everyone. Playing a crucial role in this partnership, Fonepay ensures that Indian visitors can smoothly pay for things during their time in Nepal.
2. Khalti: A favorite digital wallet in Nepal, Khalti, known for being user-friendly, teams up with Fonepay and NPCI International Payments. Together, they've created a platform that makes it super easy for Indian travelers to make payments across borders.

Indian Partners:

1. NPCI International Payments Ltd (NIPL): Linking India's payments to the world, NIPL works hand in hand with Khalti and Fonepay Payment Service to make sure payments between India and Nepal are as smooth as possible. This collaboration enhances the financial experience for Indian tourists exploring Nepal.
2. PhonePe and BHIM UPI: Big names in India's digital payment scene, PhonePe and BHIM UPI bring their familiarity to this collaboration. Indian tourists can smoothly use their favorite digital wallets, like PhonePe and BHIM UPI, to make payments with Khalti's special QR codes. This makes paying for things during their trip in Nepal simple, safe, and enjoyable.

Smooth Transactions with a Daily Limit:

 As per the guidelines set by the National Payment Corporation of India (NPCI), users are subject to a daily UPI transaction limit of INR 100,000 per person.

 This means that Indian tourists using cross-border payments in Nepal can comfortably enjoy a daily transaction limit of INR 100,000. This cap ensures security and control over your financial transactions while exploring the beautiful landscapes of Nepal.

Activating Cross-Border Payments in Nepal for Indian Citizens: A Step-by-Step Guide

Unlocking the convenience of Cross-Border Payments (International Payments) in Nepal is a straightforward process for Indian citizens. Follow these simple steps using your PhonePe or BHIM App:

1. App Activation:
• Open your PhonePe or BHIM App.
• Activate the UPI International Payments feature within the app settings.
2. Transaction Process:
• Scan the Fonepay QR Code at eSewa Merchants in Nepal using your PhonePe or BHIM App.
• Input the desired amount in NPR currency for the transaction.
• Confirm the payment to proceed.
3. Transaction Success:
• Upon successful completion, the equivalent INR amount will be deducted* from your account.
• A payment notification will be received by the merchant.
4. Important Considerations:
• Ensure that you are physically present within Nepal's borders during the transaction.
• Enable your device's location settings to utilize this feature seamlessly.

*Note: A minimal currency conversion fee may be applicable for the Cross-Border Payment feature.

In conclusion, the recent collaboration between Fonepay, Khalti, and NPCI International Payments has revolutionized international payments for Indian tourists in Nepal. This partnership, announced at the Global Fintech Fest 2023, ensures seamless transactions through digital wallets like PhonePe and BHIM UPI. With a daily UPI transaction limit of INR 100,000, the collaboration emphasizes security and convenience for users. The step-by-step guide simplifies the process, making cross-border payments in Nepal hassle-free for Indian citizens. This initiative not only enhances the financial experience for tourists but also strengthens economic ties between India and Nepal, promising a smoother travel experience for all.