After Bhutan, This Country Adopts UPI Payment For All Citizens! Big Win For UPI?

Nepal has adopted UPI which was developed by India for digital transactions

Collaboration

The Nepal government and Nepal Rastra Bank are working with the NPCI to bring UPI to Nepalese citizens.

Bhutan

Earlier this year, Bhutan also launched a BHIM-UPI based payment service for digital transactions

Nepal’s Advantage

Nepal’s move will bolster interoperable real-time person-to-person (P2P) and person-to-merchant (P2M) transactions.

UPI was launched in India in 2016.

Record Achieved

BHIM-UPI became the preferred payment mode of the citizens.

As of February 28, 2022 it has achieved a record of 452.75 crore digital payment transactions with the value of Rs 8.27 lakh crore.