Sri Lanka, March 11 -- NPCI International Payments Ltd (NIPL), the international arm of National Payments Corporation of India (NPCI) and Fonepay Payment Service Ltd, Nepal's payment network, have announced that Unified Payment Interface (UPI) is now live for cross-border transactions between India and Nepal.

Following the unveiling event at Global Fintech Fest 2023 in India in September, both entities arenow fully operational and ready to facilitate QR-code-based person-to-merchant (P2M) UPItransactions between the two countries.

In its first phase, this partnership will enable Indianconsumers to make instant, secure and convenient UPI payments across various business storesin Nepal by using UPI-enabled Apps.

Merchants acquired by the...