India-Nepal UPI-NPI cross-border P2P
remittance service launched
¨
India and Nepal launched
a cross-border peer-to-peer (P2P) remittance link by integrating India’s UPI
with Nepal’s National Payments Interface (NPI) on 6 June 2026.
¨
The system became
operational on 6 June 2026 and was officially announced by India’s Finance
Ministry on 11 June 2026.
¨
The Unified Payments
Interface (UPI) is India’s real-time digital payment system developed by the
National Payments Corporation of India.
¨
The National Payments
Interface (NPI) is Nepal’s domestic digital payment system for bank transfers
and wallet-based transactions.
¨
NPCI International
Payments Limited, the international arm of NPCI, partnered with Nepal Clearing
House Limited to implement the cross-border payment link.
¨
The payment corridor uses
mobile banking applications, UPI apps, and digital wallets to facilitate
cross-border money transfers.
¨
The system enables
instant fund transfers between citizens of both countries through familiar
digital payment channels.
¨
Users in India can send
money to Nepal using the recipient’s mobile number or Virtual Payment Address
(VPA).
¨ Indian users in Nepal can send money to India using UPI IDs.
¨ The initiative is expected to strengthen digital financial connectivity, improve remittance efficiency, and promote financial inclusion between India and Nepal.
