NPCI International and Nepal Clearing House Launch Real-Time Cross-Border Remittance

MUMBAI:
NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), in collaboration with Nepal Clearing House Ltd. (NCHL), the primary payments facilitator in Nepal, is pleased to announce the launch of payment linkage between India’s Unified Payments Interface (UPI) and Nepal’s National Payments Interface (NPI) platforms. This partnership enables real-time, low-cost, and secure cross-border remittances between India and Nepal, allowing Indian and Nepalese users in India and Indian users in Nepal to make seamless person-to-person
(P2P) transfers.

Now live through select banks, the service will soon be expanded to additional banks, further enhancing accessibility across a wide range of financial institutions. The UPI-NPI linkage represents a major advancement in financial inclusion, fostering stronger economic and digital ties between India and Nepal. This project aligns with the G20’s goals for accessible and affordable cross-border payments, facilitating a direct connection between the fast-payment systems of both countries, thereby reinforcing the longstanding social, cultural, and economic bonds shared by India and Nepal.

Indian and Nepalese users can now send money to Nepal using the receivers’ mobile numbers or virtual payment addresses (VPAs), while Indian users can transfer funds to India from Nepal using UPI IDs. This process removes the need to share sensitive bank account information, offering a simplified, secure, and convenient experience for users on both sides of the border.

Commenting on the development, Ritesh Shukla, MD & CEO, NPCI International, said “We are pleased to launch cross-border remittance link between India and Nepal in partnership with NCHL. This initiative emphasises our commitment to innovation that meet the evolving needs of global communities. By creating a real-time, affordable, and secure corridor for cross-border remittances, we are not only simplifying the remittance process for
families in both nations but also promoting financial inclusion.”

Through this innovative service, the UPI-NPI linkage ensures that transactions occur in real time, providing critical support to millions of families who depend on timely remittances. By significantly reducing the costs associated with traditional cross-border remittance methods, the new linkage offers a cost-effective, transparent solution to individuals and families sending funds across borders.

Neelesh Man Singh Pradhan, Chief Executive Officer, NCHL, said, “The successful launch of this linkage between Nepal and India is a testament to our close collaboration and commitment for making cross border fund transfer seamless, real-time and convenient. As we embark together on a digital payments journey, we look forward to add more services and ensure inclusion for the millions of people and businesses at both the sides.”

The collaboration between NPCI International and NCHL not only strengthens the India- Nepal economic corridor but also marks a significant shift towards digital payment solutions. By enabling secure, transparent, and traceable transactions, this initiative supports the resilience of the financial ecosystems in both countries, setting a precedent for future cross- border digital payment collaborations. Through this project, India and Nepal are creating a powerful model for interoperable, real-time payment systems that other geographies can emulate.