"NEPAL UPI" - Nabil Bank will launch UPI in Nepal partner with Payment Nepal (Gateway Payment Service)

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NEPAL UPI” – Nabil Bank will launch UPI in Nepal partner with Payment Nepal (Gateway Payment Service):

Merchants affiliated with Nabil UPI QR may also take payments from Indian visitors using UPI-based mobile apps like as PhonePay, Google Pay, and Paytm in Nepal.

Read also : Nepal becomes first country to launch UPI outside India

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

UPI is a real-time payment system established by the National Payments Corporation of India that enables inter-bank and cross-border transactions. This collaboration is projected to enable millions of Nepalese and Indians who cross borders each year to make smooth payments for health, education, and business services using UPI-based mobile applications in both countries’ shops and merchant outlets.

Only three months ago, Gateway Payment Services Pvt. Ltd. implemented this technique in Nepal. Simultaneously, the path has been cleared for the functioning of an integrated payment network between various banks and financial organizations in Nepal and India.

The partnership agreement was signed by Anil Keshari Shah, CEO of Nabil Bank, and Rajesh Prasad Manandhar, CEO of Gateway Payment Services.

This collaboration enables Nabil Bank’s mobile banking users in India to make secure and easy payments across merchant outlets. Merchants affiliated with Nabil UPI QR may also take payments from Indian visitors using UPI-based mobile apps like as PhonePay, Google Pay, and Paytm.

Read also : Nepal becomes first country to launch UPI outside India

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Need short answer.

How can India charge gateway fees and earn in future (currently MDR is 0)?

Finance Ninja Finance Ninja
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Zero MDR only for P2P UPI and P2M UPI, also valid only in India.

MDR fees applicable on International UPI transactions, UPI AutoPay, B2B UPI, B2C UPI, Wallet UPI, UPI Lite, UPI OD, UPI IPO, UPI Remittance etc.

NEPAL UPI also different, Nepal UPI comes under Nepalise law, MDR fees applicable on P2P UPI and P2M UPI for Nepali citizens on local UPI payments in Nepal.

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