UPINEPAL  BUILDING BLOCKS:

The fundamental building blocks of UPI-Nepal consist of the following:  Banks(Direct Members), Sub-Members, and Gateway Payment Service Pvt. Ltd.

 

A. Banks- Direct Members: Bank will act as a direct member of the UPI-Nepal network. UPINepal works directly with the bank accounts unlike any other prepaid/stored value instrument. In UPINepal architecture, Banks maintain another UPINepal-specific database that holds users' credentials including UPINepal-PIN. The bank account will be debited from or credited whenever someone sends money or receive money. User accounts are managed at the Core Banking System (CBS) of direct members. Further Banks will extend this service to the general customer directly through their Payment App or Third Party Payment Service Provider (PSP) as a sub-member. The Bank may also extend UPI services to other entities like Merchants, Cooperatives, MFIs, etc.

 

B. Sub-Members: Sub-members can join the UPINepal network through Direct Members. Sub-members can be Payment Service Providers, Payment System Operators, Merchants, Cooperatives, MFIs, etc.

 

C. Gateway Payment Service Pvt. Ltd. (GPS):   GPS carries out transaction switching and settlement across the entire ecosystem.