Skip to content
Information Technology

Fonepay and LankaPay Sign MOU for Cross-Border Interoperable Payment System

Fonepay Payment Services 3 mins read

The collaboration would allow Sri Lankan Citizens traveling to Nepal (and vice versa) to make instant payments by QR to the various merchants of their respective networks.

KATHMANDU, NEPAL / ACCESSWIRE / June 2, 2023 / Fonepay, Nepal's Largest Payment Network announced a partnership with Sri Lanka's National Payment Network, LankaPay to collaborate in developing an interoperable digital payment system that enables users to transact seamlessly across the two countries. With the integration of these payment networks expected to complete in the next three months, Sri Lankan and Nepali citizens can make merchant payments in each other's country through mobile-based QR code payment method easily, seamlessly, and securely.

Fonepay & LankaPay sign MoU
Fonepay & LankaPay sign MoU

Fonepay and LankaPay are pioneers and leading Digital Payment Networks in their domestic markets serving millions of citizens, businesses, banks, FinTechs, and government with payment technology infrastructure and payment programs like mobile app-based electronic fund transfers, mobile-based QR payments, online bill payments, etc.

The MOU was signed by the CEOs in an event witnessed by Chief Guest, Ms. B. Nilusha Dilmini, Charge d'Affaires, Sri Lanka Embassy in Kathmandu, and representatives from the banking and payment service industry and prominent Nepali media.

Welcoming the guests and delegates, Mr. Diwas Kumar Sapkota (CEO, Fonepay) said, "This collaboration signifies our commitment to leveraging technology to unlock new opportunities, enhance financial inclusion, and create a thriving digital economy."

Equally elated about this collaboration, Mr. Channa de Silva (CEO, LankaPay) mentioned, "This marks a significant milestone in our mission to revolutionize digital payments in our country. It reflects our shared vision of creating a seamless and inclusive payment ecosystem for our customers."

Mr. Daniel D. Shrestha, Director of Group Strategy of F1Soft Group (parent company of Fonepay) expressing the group's intent to go global, said, "This initiative is part of our strategy to replicate the successes we have jointly achieved along with our partner BFIs since our inception in 2004 in Nepal, now outside of Nepal."

F1Soft Group has already started making concerted efforts towards offering products and service lines of F1Soft and its subsidiaries, in the areas such as omnichannel banking through its products, digital lending through Foneloan, and other digital payment solutions to emerging markets outside Nepal.

Chairperson of Fonepay and President of F1Soft Group, Mr. Biswas Dhakal, in his closing remarks said, "This marks a historical step towards achieving interoperability in the digital payment space not only for Fonepay but for the entire country. The interoperability between Fonepay and LankaPay is not just about convenience; it is a catalyst for economic growth. We would like to thank the Central Bank of Nepal for its support in realizing our ambition to establish a cross-border payment network with Lankapay. We also urge the two governments to work on intensifying efforts to increase cross-country tourism, trade, and commerce now that we will have a foundation of interoperable payment systems between the two countries."

Contact Information

Sumukh Lohani
Sr. Marketing Officer
[email protected]
+977-9848822763

SOURCE: Fonepay Payment Services

.


View source version on accesswire.com:
https://www.accesswire.com/758863/Fonepay-and-LankaPay-Sign-MOU-for-Cross-Border-Interoperable-Payment-System

More from this category

  • Information Technology
  • 23/06/2025
  • 14:10
Global Electronics Association

Global Electronics Association Debuts; New Name Elevates IPC’s 70-Year Legacy as Voice of $6 Trillion Electronics Industry

Electronics Standards and Certifications Leader Unveils New Vision and Mission for Supply Chain Harmonization and Advocacy, Releases Global Trade Flows StudyBANNOCKBURN, Ill., June 23, 2025 (GLOBE NEWSWIRE) -- Today begins a new chapter for IPC as it officially becomes the Global Electronics Association, reflecting its role as the voice of the electronics industry. Guided by the vision of “Better electronics for a better world,” the Global Electronics Association (electronics.org) is dedicated to enhancing supply chain resilience and promoting accelerated growth through engagement with more than 3,000 member companies, thousands of partners, and dozens of governments across the globe.“The Board's support…

  • Information Technology
  • 17/06/2025
  • 21:10
Lantronix, Inc.

Next-Gen Edge AI Solutions for the Real World: Autonomous Navigation for Drones, Surveillance and Robotics

Lantronix and Aerora positioned to advance technologies in AI-powered drone solutionsIRVINE, Calif., June 17, 2025 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global leader in compute and connectivity IoT solutions enabling Edge AI Intelligence, today announced its collaboration with Aerora, a provider of integrated NDAA-compliant propulsion, ground control and precision AI payload systems. This collaboration delivers Edge AI-driven solutions that significantly accelerate advancements in drones, robotics and surveillance applications delivered by Aerora’s OEM platform for AI-Powered Visual Navigation.“Lantronix’s collaboration with Aerora promises to advance the development of AI-powered drones and other intelligent applications, equipping developers with cutting-edge tools from leading…

  • Business Company News, Information Technology
  • 17/06/2025
  • 10:38
ASUS Australia

ASUS Republic of Gamers Announces ROG Strix GS-BE18000 WiFi 7 Gaming Router

Featuring wired capacity of 20G via eight ports, two dedicated gaming ports, up to three SSIDs for gaming, IoT device support, VPN support &…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.