Question
Download Solution PDFWhich country will be the first foreign country to adopt India's UPI system?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Nepal.
Key Points
- National Payments Corporation of India (NPCI) has announced that Nepal will be the first foreign country to adopt India's UPI system.
- The international arm of NPCI, NPCI International Payments Ltd (NIPL) has joined hands with Gateway Payments Service (GPS) and Manam Infotech to provide the services in Nepal.
- Gateway Payments Service is the authorized payment system operator in Nepal.
Important Points
- This collaboration is expected to serve the larger digital public good in Nepal and bolster interoperable real-time person-to-person (P2P) and person-to-merchant (P2M) transactions in the neighbouring country.
- It will help modernize Nepal's digital payment infrastructure.
Additional Information
- The National Payments Corporation of India is an umbrella organisation for operating retail payments and settlement systems under the ownership of Reserve Bank of India in India.
- NPCI was founded in 2008.
- It is headquartered in Mumbai.
- Nepal:
- Capital - Kathmandu.
- Currency - Nepalese rupee.
Last updated on Jun 30, 2025
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