UPI Adoption in Nepal, Records Over Rs.250 Million Transaction Volume and exceeding 100 thousand transactions across all 77 districts

UPI Adoption in Nepal, Records Over Rs.250 Million Transaction Volume and exceeding 100 thousand transactions across all 77 districts:

Fonepay is thrilled to announce a remarkable surge in UPI (Unified Payments Interface) acceptance for travelers from India across Nepal. Since its launch on February 28th, 2024, cross-border payment acceptance with UPI has experienced phenomenal growth, processing over Rs. 250 million in transaction volume and exceeding 100 thousand transactions across all 77 districts. This surge aligns perfectly with the peak season for Indian travelers visiting Nepal, which is expected to reach record numbers this year.

Many Indian travelers are choosing Nepal for its breathtaking scenery, rich cultural heritage, and growing adventure tourism. UPI payments eliminate the need to exchange currency or carry cash, allowing for a seamless travel experience. The convenience, security, and immediacy of UPI payments through the Fonepay network have been pivotal in driving the increase in transactions from Indian tourists, making their visits to Nepal more convenient and enjoyable. This seamless payment solution is a key factor in the rising popularity of Nepal as a preferred destination for Indian travelers.

Fonepay has established itself as the frontrunner in facilitating UPI payments in Nepal with strong BFIs network. As of now 80% of Nepal’s QR acceptance infrastructure can accepts UPI transactions using Fonepay’s payment rails. The QR and payment rails operated by Fonepay network has enabled all the 77 districts of Nepal within the coverage of UPI acceptance Nepal The extensive network operated by Fonepay which encompasses BFI’s and PSPs operating int the country which facilitates widespread availability of UPI payments across the country, further contributing to its rapid adoption.

“The rapid adoption of UPI payments in Nepal is evidence to the growing demand for convenient and secure digital payments,” said Diwas Kumar, CEO at Fonepay. “We are thrilled to play a key role in this digital transformation and empower both Nepali citizens and Indian visitors with seamless payment options.”