MoU between Fonepay & LankaPay for Crossborder Interoperable Payment System
All travelers who use either of the network's applications for the first time can make cross-border payments.
KATHMANDU: Fonepay, Nepal’s Largest Payment Network, is pleased to announce the signing of a Memorandum of Understanding (MoU) with Sri Lanka’s National Payment Network: LankaPay, to collaborate on the strategic partnership to revolutionize the digital payment landscape by developing an interoperable digital payment system that enables users to transact seamlessly across the two countries.
The MOU was signed by Mr. Diwas Kumar Sapkota, the CEO of Fonepay and Mr. Channa de Silva, the CEO of LankaPay in the presence of Chief Guest, Ms. B. Nilusha Dilmini, Charge d’Affaires, a.i. & Head of the Chancery, Sri Lanka Embassy in Kathmandu, Mr. Daniel D. Shrestha, Director of Group Strategy, F1Soft Group and Mr. Biswas Dhakal, Chairperson, Fonepay and President, F1soft Group.
The impact of this agreement would be that Sri Lankan citizens traveling to Nepal would be able to make rapid payments by QR to the various merchants of the Fonepay Network by utilizing the LankaPay-approved mobile application. Nepali citizens visiting Sri Lanka can do the same by utilizing Fonepay-approved payment apps.
All travelers who use either of the network’s applications for the first time can make cross-border payments to merchants on both networks in an affordable and convenient manner.
