नेपाल सम्वत् ११४४ कछलाथ्वः १२ (२८ कार्तिक , २०८१) नोभेम्बर १३, २०२४ , बुधबार, बाँपीझ्याला ।Starting in early 2025, Nepalis may be able to scan and pay in India using QR codes, thanks to Fonepay Payment Service Ltd., Nepal’s largest payment network, and a partnership with NPCI International Payments Ltd. (NIPL), the international branch of India’s National Payments Corporation. This collaboration is expected to transform cross-border transactions, eliminating the need for cash for Nepalis in India and potentially stimulating regional digital commerce. Fonepay’s COO, Paras Kunwar, indicated that all preparations are complete on the Nepali side, with a final go-ahead from Indian authorities anticipated by year’s end.
Nepal has witnessed substantial growth in digital payments, spurred by innovations like QR code payments, which allow person-to-merchant (P2M) transactions. Nepali regulatory changes now permit domestic operators to facilitate digital transactions abroad, subject to a daily limit of IRs100,000 for Indian payments. Fonepay’s QR system for India aligns with these recent reforms, targeting convenience for Nepali travelers in India. Additionally, since March 2024, Indian tourists in Nepal have been able to make QR code payments, creating a cross-border digital ecosystem already benefiting tourism and local businesses.
Beyond India, Fonepay is working to introduce QR payment systems for Chinese nationals in Nepal, marking the first step of a phased rollout in the Chinese market. Once initial agreements with Alipay+ and UnionPay are finalized, Chinese visitors will be able to pay via QR codes in Nepal, with the goal of extending QR payment capabilities for Nepalis in China later. Fonepay also seeks to expand QR payment availability to South Korea, Singapore, Thailand, and other Southeast Asian nations, further integrating Nepal into the regional digital finance landscape.
The cross-border QR payment initiatives come as Nepal’s digital infrastructure grows. In the last decade, digital transaction tools such as NFC-based cards, connectIPS, and retail payment switches have emerged, offering convenient alternatives to cash and traditional banking. With around 73% smartphone penetration and increasingly affordable internet, digital adoption in Nepal has risen rapidly. The central bank’s report highlights how digital payments have grown year over year, with QR transactions rising from Rs36.21 billion to Rs61.39 billion between August and September alone, emphasizing the appeal and impact of cashless payment options in Nepal’s economy.
