NSBL and FonePay sign an agreement to facilitate cross-border payments

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, 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 transaction and enhance the overall banking experience for customers.

The agreement was signed by Mr. Rajesh Kumar Panda, Dy. CEO & Chief Financial Officer, NSBL and Mr. Diwas Kumar, Chief Executive Officer, FonePay in presence of Mr. Dipak Kumar De, Managing Director & 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 is providing its banking services through its 97 branches, 22 extension counters, 7 province offices and 1 corporate office along with 121 ATMs.