Fonepay Completes One Year of Cross-Border UPI QR Payments in Nepal

Fonepay, Nepal's leading digital payment network, has completed one year of offering cross-border UPI QR-based person-to-merchant (P2M) transactions. In collaboration with India's National Payments Corporation of India, Fonepay introduced cross-border UPI payment acceptance in March 2024. After integration in February 2024, Fonepay enabled over 67,000 merchants in Nepal to accept digital payments, with over 127,000 Indian tourists benefiting from seamless and secure transactions.

In one year, Fonepay processed over NPR 1.6 billion (USD 12 million) in UPI transactions, especially in the retail, hospitality, healthcare, and tourism sectors. The service has gained popularity, with 5.6 lakh transactions registered and growing trust in digital payments. UPI transactions span across Nepal, including rural areas like Dolpa and Bajura, and are widely accepted in major tourist destinations. The initiative has contributed significantly to Nepal’s economy and digital financial inclusion. Fonepay plans to expand UPI acceptance and enhance the digital payment ecosystem in Nepal.