A memorandum of understanding (MOU) regarding cross-border payments was signed between the central banks of the two countries, enabling Indian citizens to easily make payments in Nepal using QR scans.
With the signing of the MoU on February 16, India's Unified Payments Interface (UPI) was integrated with Nepal's National Payments Interface (NPI). With this, Indian citizens can now make payments in Nepal through QR scan with the help of payment network PhonePe.
Nabil Bank, Everest and Machhapuchchhre Bank have made arrangements to get money through QR as soon as PhonePe starts its service.
According to Nabil Bank, Indian citizens can now make payments using Indian apps PhonePe and BHIM through the QR code service taken through the bank.
While there is no charge for QR payment currently, some service charges will be levied for payments made through the Indian app, Nabil Bank said. This service will start from coming March 6.
Payments can be made to Everest Bank's Merchant QR from the Indian app
Similarly, Everest Bank has also notified that payments can be easily received through merchant QR from Indian apps PhonePe and BHIM.
"Open an account at your nearest Everest Bank today and take advantage of the secure payment service by using Merchant QR," the bank said.
Machhapuchchhre Bank has also notified that payments can be easily received through merchant QR through Indian apps PhonePe and BHIM.
It can also be done through eSewa and Khalti
Apart from banks, payments can also be received through Indian wallets from payment service providers such as eSewa and Khalti.
eSewa has said that merchants who have joined its PhonePe QR merchant network can now receive payments from their Indian customers directly through eSewa's PhonePe QR through the National Payments Corporation of India (NPCI).
According to eSewa, a service fee will be charged for this.
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