To provide cross-border QR payment service between Nepal and Korea, a memorandum of understanding has been signed between Nepal's largest payment operator PhonePay and Korea's global payment network provider GLN International.
The two companies have collaborated to work on the regulatory, technical and commercial feasibility required to provide cross-border QR code payments between Nepal and Korea. Through this collaboration between PhonePe and GLN, tourists coming to Nepal from Korea will be able to make QR payments in Nepal. GLN users coming to Nepal from Korea can use realtime QR payment services at PhonePay's thirteen lakh stores through banking apps like Hana 1Q, KB Wallet, iMbank, Toss, Hana Money and GLN App.
GLN CEO Kingho Kim said he is excited to collaborate with PhonePay in line with its commitment to provide cross-border payment services worldwide.
'This collaboration has added another dimension to our commitment to expand into new areas,' he said.
Diwas Sapkota, CEO of PhonePe, said that he is excited to expand PhoneP's services to Korean tourists by collaborating with GLN.
He said that this collaboration will provide technical support to open new opportunities and help Nepal's digital economy.