KATHMANDU

Nepal SBI Bank Ltd. (NSBL) has entered into an agreement with FonePay Pvt. Ltd. to facilitate cross-border payments between Nepal and India.

Indian customers visiting Nepal can now make instant payments for goods and services using UPI-enabled apps (PhonePe, BHIM UPI, and Google Pay). NSBL has partnered with FonePay Pvt. Ltd. to enable the Person-to-Merchant (P2M) payment channel. Merchants affiliated with the FonePay Network of NSBL can readily accept UPI payments, eliminating the need for cash transactions.

The bank’s initiative aims to promote cashless transactions and enhance the overall banking experience for customers.

The agreement was signed by Mr. Rajesh Kumar Panda, Dy. CEO and Chief Financial Officer, NSBL, and Mr. Diwas Kumar, Chief Executive Officer, FonePay, in the presence of Mr. Dipak Kumar De, Managing Director and CEO, NSBL. The event was also attended by Mr. Yadvender Kant, Chief Operating Officer, NSBL; Mr. Sunand Malhotra, Chief Technology Officer; Mr. Ritesh Aryal, Chief Business Development Officer; Sumit Das, Chief Business Officer, FonePay; and other senior officials of the bank.

The bank provides its banking services through its 97 branches, 22 extension counters, 7 province offices, and 1 corporate office, along with 121 ATMs.