NCHL & Mastercard enter into collaboration for cross border payments in Nepal

KATHMANDU: Nepal Clearing House Ltd., a payment system operator licensed by Nepal Rastra Bank providing multiple payment systems in Nepal and Mastercard, a global technology company operating in the payments industry, have entered into a Memorandum of Understanding (MoU) for Quick Response (QR) payments using Mastercard cards for international tourists visiting Nepal.

Both parties shall explore a unique payment use-case with the objective of providing a seamless and convenient payment experience for international Mastercard cardholders to “Pay like a Local” at NCHL’s NEPALPAY QR and Interoperable QR merchants in Nepal.

By offering an additional platform for international tourists to make digital payments using their Mastercard cards at local QR merchants, the collaboration will enhance digital payment adoption by consumers and merchants across the country.

NEPALPAY QR and Interoperable QR have close to one million QR merchants in Nepal, whereas Mastercard has over 3.1 billion cards issued worldwide.

This engagement between NCHL and Mastercard is expected to majorly support Nepal’s tourism sector for inbound international transactions.