Kathmandu. With the aim of making inter-country digital payment transactions more simple and secure, Sri LankaPay and Nepal Clearing House Limited of Nepal have started cross-border QR payments. With this arrangement, Nepali passengers visiting Sri Lanka will be able to easily pay by scanning more than 400,000 QatarQ merchants in Sri Lanka through Connect IPS or other mobile banking apps. <\/p>\n
In a special program organized in Colombo, Sri Lanka, Nepal Rastra Bank, Central Bank of Nepal, Nepal Clearing House Limited, Lankapay and senior representatives from the participating banks and financial institutions of both countries jointly announced the commencement of cross-border payments. The launch marks a significant milestone for regional interconnectivity of digital payments among South Asian countries. It will further strengthen the payment ecosystem in the two countries by providing secure, real-time and interconnected channels. <\/p>\n
Nepal and Sri Lanka share long-standing historical, cultural and religious ties. Increasing tourism and trade exchanges between the two countries have further strengthened this relationship. The newly launched cross-border payment system is expected to contribute to enhance the tourist and business experience by providing easy, secure and cashless payment options. The interconnectivity between national payment infrastructures of Nepal and Sri Lanka has opened up new opportunities for SMEs to reach international customers. <\/p>\n
According to this arrangement, Nepali users will be able to make real-time payments by scanning LankaQR in Sri Lanka through the existing digital payment apps in Nepal. It will be available as a safe and secure payment system at the national level and will be a safe and convenient mode of payment for the payment system for the payment recipients and merchants. This service has been initially launched by Laxmi Sunrise Bank as an issuer bank, according to which the dollar cards\/instruments issued by Laxmi Sunrise Bank can be linked to the connectIPS app and QR payments can be made in Sri Lanka. In the coming days, this feature will also be added to other mobile banking apps, which will facilitate the necessary payments while traveling to Sri Lanka. <\/p>\n
This arrangement of cross-border QR payments reflects the shared objective of both countries to make digital financial services inclusive, interconnect regional payments and increase the adoption of modern payment systems. This initiative linking the two national payment ecosystems is expected to facilitate tourism, trade and facilitate easy payments between citizens of both countries.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. With the aim of making inter-country digital payment transactions more simple and secure, Sri LankaPay and Nepal Clearing House Limited of Nepal have started cross-border QR payments. With this arrangement, Nepali passengers visiting Sri Lanka will be able to easily pay by scanning more than 400,000 QatarQ merchants in Sri Lanka through Connect IPS […]<\/p>\n","protected":false},"author":9,"featured_media":299057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45117,45159],"tags":[],"class_list":["post-299059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bank-finance-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/299059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=299059"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/299059\/revisions"}],"predecessor-version":[{"id":299060,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/299059\/revisions\/299060"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/299057"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=299059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=299059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=299059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}