UPI flourishes abroad as well, this country has adopted UPI for digital transactions

Neighboring country Nepal has also adopted UPI for digital transactions in its country. Nepal is the first country outside India to have accepted the UPI platform as a payment gateway.

Last year in India, transactions worth $ 940 billion were done with the help of UPI.

National Payments Corporation of India ,NPCI) said on Thursday that Nepal has become the first country to adopt India’s UPI system, thereby helping the neighboring country. digital economy ,Digital Economy) will help significantly in strengthening NPCI International Payments Limited (NIPL), the international arm of NPCI, has joined hands with Gateway Payments Service (GPS) and Manam Infotech to offer services in Nepal. GPS is the authorized payment system operator in Nepal. Manam Infotech in Nepal Unified Payments Interface ,UPI) will apply. NPCI said in a statement that this tie-up will increase convenience for the people in Nepal and digital transactions ,Digital transactions) will lead to.

According to the statement, Nepal will be the first country outside India to adopt UPI as a payment platform promoting digitization of cash transactions. Rajesh Prasad Manandhar, CEO, GPS, said that the UPI service has made a huge positive impact on digital payments in India. “We are hopeful that UPI will play an important role in transforming the digital economy in Nepal and building a less cash society,” he said.

Transactions worth $940 billion through UPI in 2021

NIPL CEO Ritesh Shukla said in the statement, “We are confident that this initiative will help enhance NIPL’s technological capabilities and its unmatched offering globally.” enabled, which is equivalent to about 31 percent of India’s GDP.

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