India’s National Payments Corporation of India (NPCI) has joined hands with Nepal to bring the Unified Payment Interface (UPI) to the country. With this, Nepal will become the first country other than India to have to UPI system, thus, marking a moment of pride for India.
For this, NPCI’s International wing, the NPCI International Payments Limited (NIPL) has collaborated with the Gateway Payments Service Pvt Ltd in Nepal and Manam Infotech Private Limited.
UPI is touted as one of the most successful payments methods globally and is arguably the safest and easiest way of sending or receiving money. It has been revealed that UPI was responsible for 39 billion transactions in 2021, amounting to 31% of the total GDP of India. The Indian Government aims to expand this system to more countries.
