New Delhi: India and Nepal have rolled out a new peer-to-peer cross-border remittance system that allows instant money transfers between the two countries, marking a step forward in digital financial connectivity.
The facility directly connects India’s Unified Payments Interface (UPI) with Nepal’s National Payments Interface. The integration enables users on both sides to send and receive money in real time using mobile banking apps and digital wallets.
According to the finance ministry, the system aims to make cross-border transactions easier for travelers, workers, and businesses by removing the need for cash exchanges and reducing dependence on informal channels.
The technical framework has been developed through cooperation between NPCI International Payments Limited and Nepal Clearing House Limited, ensuring secure and seamless interoperability between the two payment networks.
Officials said the linkage will particularly benefit travelers by cutting out currency conversion hassles and reducing transaction delays.
Small businesses in Nepal are also expected to gain wider access to Indian visitors, supporting higher retail and service transactions.
The initiative strengthens economic ties between the two neighbors and adds to India’s expanding global digital payments footprint.
UPI is now accepted in nine countries, including Singapore, the UAE, France, Mauritius, Bhutan, Qatar, Sri Lanka, Cambodia, and Nepal, allowing Indian users to make familiar and quick digital payments abroad.
The finance ministry added that the move supports broader goals of financial inclusion, safer remittances, and deeper regional digital integration between India and Nepal.
