Mahalaxmi Bikas Bank, in collaboration with PhonePe, has launched international QR payment services aimed at facilitating seamless transactions for Indian citizens in Nepal. This innovative initiative allows Indian users of popular payment services like Bhim Pay, Paytm, and GooglePay to make instant, secure, and convenient payments at various commercial establishments across Nepal using QR codes provided by the bank.
This strategic partnership not only aims to enhance economic and social ties between Nepal and India but also supports bilateral economic growth and tourism development in Nepal. Previously, Mahalaxmi Bikas Bank had teamed up with Nepal Clearing House (NCHL) to streamline international transaction payments between the two countries, further solidifying its role in facilitating cross-border financial transactions.
Looking ahead, Mahalaxmi Bikas Bank plans to collaborate closely with institutional customers to improve service delivery, particularly targeting Indian tourists visiting Nepal. With a commitment to leveraging digital payment advancements, the bank seeks to establish itself as a leading provider of international QR payment solutions through its extensive branch and merchant network nationwide.
The bank’s recent 22nd annual general meeting reaffirmed its dedication to excellence under the motto “Strong Bank, Successful Cooperation.” With over three decades of delivering quality financial services to Nepali communities, Mahalaxmi Bikas Bank also announced plans to explore strategic partnerships with foreign banks or financial institutions to enhance its service capabilities and expand its market presence.
This initiative marks a significant step forward in promoting financial inclusion, cross-border commerce, and tourism, underscoring Mahalaxmi Bikas Bank’s role as a catalyst for economic development and cooperation between Nepal and India.
