New Delhi: In a significant step toward strengthening digital financial connectivity between India and Nepal, NPCI International Payments Ltd. (NIPL) and Nepal Clearing House Ltd. (NCHL) have launched a real-time cross-border remittance linkage connecting India’s Unified Payments Interface (UPI) with Nepal’s National Payments Interface (NPI).
The newly introduced payment corridor will facilitate seamless person-to-person (P2P) fund transfers between the two neighboring countries, allowing users to send money instantly and securely. The initiative is expected to simplify remittance services for individuals while promoting greater financial inclusion and digital payment adoption across the region.
Under the arrangement, Indian and Nepalese users residing in India can transfer money to beneficiaries in Nepal using either mobile numbers or Virtual Payment Addresses (VPAs). Similarly, Indian users in Nepal can send funds back to India using UPI IDs, eliminating the need to share detailed bank account information.
According to NIPL and NCHL, the service is currently operational through selected banking partners and will gradually be extended to more financial institutions in the coming months. The organizations said the system has been designed to provide a secure, transparent, and cost-effective method for cross-border remittances while ensuring real-time transaction processing.
The UPI-NPI linkage is also expected to strengthen economic ties between India and Nepal by making cross-border payments more accessible and efficient. Officials noted that the initiative could serve as a model for interoperable real-time payment systems in other regions.
Ritesh Shukla, Managing Director and CEO of NPCI International, said the partnership aims to create an affordable, secure, and real-time remittance corridor while improving the overall user experience. NCHL CEO Neelesh Man Singh Pradhan highlighted that the collaboration reflects the shared commitment of both institutions to making cross-border fund transfers seamless and convenient, with additional services planned for the future.
