LankaPay partners Nepal’s Fonepay for cross-border interoperable payment system

From left: Daniel D. Shrestha, Director of Group Strategy of F1Soft Group; Diwas Kumar Sapkota, CEO – Fonepay; B. Nilusha Dilmini, Charge d’ Affaires, Sri Lanka Embassy in Kathmandu; Channa de Silva, CEO – LankaPay; and  Biswas Dhakal, Chairperson of Fonepay and President of F1soft Group

In a groundbreaking move towards expanding its footprint regionally, LankaPay, the national payment network of Sri Lanka recently signed an MoU with Fonepay, Nepal’s largest payment network. 
The collaboration would enable Sri Lankan citizens travelling to Nepal (and vice versa) to make mobile based QR payments at merchants connected to the respective networks conveniently. 

With the integration of the two payment networks expected to be completed in the next few months, Sri Lankan and Nepali citizens will be able to make QR based merchant payments in both countries conveniently, seamlessly, and securely. LankaPay, as the pioneering payment network in Sri Lanka that has been in the forefront of introducing payment technology innovations, is now aggressively pursuing to expand its global footprint as the next phase of its journey. 

Signifying this partnership towards developing an interoperable digital payment system that enables users to transact seamlessly across the two countries, an MoU was signed at a ceremony held recently in Nepal under the patronage of Chief Guest, B. Nilusha Dilmini, Charge d’ Affaires, Sri Lanka Embassy in Kathmandu, and representatives from the banking and payment service industry and prominent Nepali media. 

With this strategic partnership, we aim to leverage our combined expertise in technology to empower the people of both nations. Cooperation of two great entities will open doors to new opportunities for businesses, drive economic growth and enhance financial inclusion for individuals both in Sri Lanka and Nepal,”LankaPay CEO Chana de Silva said.

Speaking of this partnershipFonepay CEO Diwas Kumar Sapkot said, “This collaboration signifies our commitment to leveraging technology to unlock new opportunities, enhance financial inclusion, and create a thriving digital economy.” 

Fonepay is Nepal’s leading Payment System Operator, facilitating inter-bank person-to-person (P2P) and person-to-merchant (P2M) transactions. Fonepay is regulated by Nepal Rastra Bank (NRB) and it is also Nepal’s first non-card based PSO to achieve PCI DSS Certification. A subsidiary of F1Soft Group, Fonepay is an ISO 27001:2013 certified payment service operator which aims to drive efficiency in operations and widen the reach of payment systems through technology innovations.