Google Pay Paytm and PhonePay coming into operation in Nepal payments can be made through digital wallets like Paytm and Google Pay. Nepal-based Gateway Payment Services Pvt. Ltd. will launch such service through Unified Payment Interface Nepal.
Gateway Payment Services Pvt. Ltd has entered into agreements with India-based NPCI International and Manam Infotech. With this agreement, the way is now open for the operation of an interconnected payment network between various banks and financial institutions, and payment service providers of the two countries.
At the same time, arrangements are being made to immediately transfer money to any bank account and digital wallet account in Nepal through digital wallets including Paytm, Google Pay, PhonePay, BharatPay which are prevalent in India.
The agreement was signed by Kamal Nath Pradhan, chairman of the company, Riteish Shukla, CEO of India-based Unified Payment Interface (UPI), and NPCI International, promoted by Reserve Bank of India, and Nagababu Ramineni, director of Indian fintech company Infotech.
Google Pay Paytm and PhonePay coming into operation in Nepal
After the launch of this service, Indian citizens and Nepali citizens living in India will be able to pay by scanning Nepal Pay based in Nepal Pay, Paytm, Phone Pay, Bharat Pay, and other QRs when they come to Nepal.
Nepali citizens can pay by scanning the QR code in Nepal through e-services, wallets, wallets like IME Pay and mobile banking. Praveen Regmi, general manager of Gateway Payment Services Pvt. Ltd
In addition to this, Nepali citizens can pay by scanning the QR code in Nepal through e-services, wallets, wallets like IME Pay and mobile banking. Praveen Regmi, general manager of Gateway Payment Services Pvt. Ltd.
NPCI plans to gradually launch all its services in India, ‘he said. Gateway Payment Services Pvt. Ltd. has obtained a payment system operator license from Nepal Rastra Bank.
Google pay now in Nepal Google pay online International payment gateway a Google pay user can add a debit or credit card to their Google Play account and Google pays web to purchase and consumer apps they are mobile device on a profit of on a point of buying And selling Counter to pay On your consumer. on the Mobile App.
Google Just responds to your card and helps to secure payment between buyers and sellers it uses a one-time password its call OTP which acts as a one-time-use password.
How does google payment work in Nepal?
You wish to receive payment in Nepal in your google payment account you must be a registered user of google pay and all of your KYC is verified after that you need to follow the following step to complete your transaction.
How do I Receive Google Payment or Paytm Payment in Nepal?
Step -1 Open Your Google App
Step -2 swipe up the circle in the middle of the screen down towards receive ask other person or Marchant to swipe the circle to payment
Step-3: last but not least: the other person needs to type your name on the screen when they have started to make you pay they will see your name and confirm that amount gone in your account. finally, you both have done transactions from one account to another account.
You must Be Know About – What Is Unified Payment Interface?
A unified payment interface is a smart application that allows the user to receive and transfer the money from one account to another account with secure payment methods. the technology used in UPI that called Sigle window mobile payment system this system is developed by the National Payment corporation India (NPCI) the UPI made the payment system. this is a very useful payment system that accepts one-time KYC verification and you did not use multiple time your bank details on every transaction made by your account.
Unified Payment infrastructure Is a real-time payment system that accepts peer to peer bank transfers this payment system is monitored by the Central Bank of Nepal and India this mobile platform is allowed money transfer to your bank account another bank account
The Main Feature Of UPI Payment System
- immediate payment service system
- immediate payment service IMPS NEFT
- complete digital payment service allow you to 24 hours online banking
- allow you to multiple bank accounts with the application
- every transaction need to MPIN and OTP with SECURE CODE
- UPI payment system can work on USSD systems
- That means no need for an internet connection
you can Don multiple transactions with your account for your payment with all business in-app payments for barcode payment for QR code payments.
NPCI International, Gateway Payment Service, and Manam Infotech join hands to deploy UPI solutions in Nepal
NPCI International Payments Ltd (NIPL) to Enable NPCI’s flagship Unified Payments Interface(UPI) platform in Nepal
This partnership will enable the creation of a real-time payments system in Nepal, leveraging NPCI’s
best in class technology to democratize payments and displace cash
Gateway Payment Service Pvt Ltd (GPS) shall run and manage UPI in Nepal as the Nepal Rastra Bank Authorized Payment System Operators
Manam Infotech Pvt Ltd shall provide the UPI Technology and Operations Support working closely with GPS in Nepal
NPCI International Payments Limited (NIPL), the International arm of National Payments Corporation of India has joined hands with Gateway Payments Service Pvt Ltd, authorized Payment System Operators in Nepal, and Manam Infotech Private Limited to deploy Unified Payments Interface(UPI) in Nepal for the larger Digital Public Good and to bolster interoperable real-time Person to person (P2P) and Merchant payment transactions (P2M) in Nepal.
Nepal shall be the first country outside of India to adopt UP as the payments platform driving the digitalization of cash transactions and furthering the vision and objectives of the Nepal Government and Nepal Rastra Bank as the Central bank.
This collaboration will enable the last-mile consumers in Nepal to reap the benefits of an open interoperable payments system driving immediate payment transfers between bank accounts and merchant payments in real-time. It will also enable the way forward for real-time cross-border P2P remittances between Nepal and India.
UPI is amongst the most successful real-time payments (RTP) systems globally, providing – simplicity, safety, and security in person to person (P2P) and person to merchant (P2M) transactions in India. In 2021, UPI enabled 39 Billion financial transactions amounting to commerce worth USD 940 Billion, which is equivalent to approximately 31% of India’s GDP. UPI’s real-time payment infrastructure will help catalyze the process of financial inclusion in Nepal and will also create more opportunities for businesses. It will help modernize Nepal’s digital payment infrastructure and bring the convenience of digital payments to citizens of Nepal.
Rajesh Prasad Manandhar, CEO of GPS said, “The same UPI service has created a significant positive impact in India in terms of the country’s digital payment transformation. We expect UPI in Nepal would play a pivotal role in transforming the digital economy of the country and dreams of building a less-cash society.”
Ritesh Shukla, CEO of NIPL said, “We are delighted to join hands with GPS and Manam Infotech to facilitate the deployment of NPCI’s flagship Unified Payments Interface in Nepal. At NIPL, we are committed to transforming payments by taking our robust payments solutions to global markets and collaborating with local payment system operators. We are excited about this partnership, which will enable consumers within Nepal to transact swiftly using a state-of-the-art UPI platform and deliver a seamless user experience. We are confident that this initiative will stand as a testimony to NIPL’s technological capabilities and vision of scaling our unique offerings globally.”