KATHMANDU: A bilateral agreement has been signed between Nepal and India to conduct financial transactions through QR codes.

So far, although cross-border (international) payments can be made for purchasing goods and services through cards, financial transactions were not made through QR codes.

However, an agreement has been reached between the Nepal Clearing House and the National Payment Corporation of India to connect the two companies operating the payment system in India.

The Nepal Clearing House and NPCI cross-border payment agreement was signed in the presence of Prime Minister Pushpa Kamal Dahal Prachanda and Indian Prime Minister Narendra Modi on Thursday.

After the agreement, Nepalese citizens will be able to make digital payments in the Indian market and Indian citizens in Nepal through the wallet and mobile banking by scanning QR.