KATHMANDU, MAY 12

Nabil Bank has partnered with Payment Nepal (Gateway Payment Service Pvt Ltd, a payment system operator licensed by Nepal Rastra Bank) to offer acceptance of its mobile-based real-time payment system, Unified Payments Interface (UPI), in Nepal.

UPI is an instant real-time payment system developed by National Payments Corporation of India facilitating inter-bank and cross-border transactions.

This partnership will enable millions of Nepalis and Indians who travel across the borders every year to make seamless payments related to their health, education and business services using UPI-based mobile applications across shops and merchant stores in both the nations, as per a press statement.

The partnership agreement was signed by Anil Keshary Shah, chief executive officer of Nabil Bank and Rajesh Prasad Manandhar, chief executive officer of Gateway Payment Service.