NIC Asia Bank also joins NPS-NCS & NEPALPAY Card
Post commercial rollout of NEPALPAY infrastructure, NIC Asia Bank Limited will be able to issue and acquire such cards for its customers.
KATHMANDU: NIC Asia Bank Limited and Nepal Clearing House Limited (NCHL) entered into an agreement for principal membership of NPS-National Card Switch & Domestic Card Scheme (NEPALPAY Card).
The agreement was signed and exchanged between Mr. Sujit Kumar Shakya, Chief Executive Officer of NIC Asia Bank Ltd and Mr. Neelesh Man Singh Pradhan, Chief Executive Officer of NCHL.
NCHL recently announced the readiness of infrastructure for NPS-NCS and requested BFIs to initiate integrating their switch for issuing and acquiring of the Nepal’s own domestic card scheme NEPALPAY Card, corresponding to which BFIs are getting onboarded within NPS-NCS and NEPALPAY
Post commercial rollout of NEPALPAY infrastructure, NIC Asia Bank Limited will be able to issue and acquire such cards for its customers.
NPS-NCS is being established as a central payment infrastructure for routing and settlement of domestic card transactions to ensure interoperability in routing and settlement of domestic card transactions, reduce the cost and dependency on international card schemes, implement data localization for domestic transactions and support innovation in digital ecosystem with domestic card scheme.
NCHL has been providing multiple national payment systems for its member including 54+ BFIs, majority of the PSOs & PSPs and 100+ indirect & technical members.
The implementation of NPS-NCS and NEPALPAY is expected to drive Nepal’s card ecosystem in the next level.
NIC Asia Bank Limited as one of the leading commercial banks, is providing its modern banking and financial services through 360 branches, 115 extension counters, 41 branchless banking, and 649 ATM Terminals.
