Sanima Bank joins NPS-NCS & NEPALPAY Card

KATHMANDU: Sanima Bank Limited and Nepal Clearing House Limited (NCHL) entered into an agreement for principal membership of NPS-National Card Switch & National Card Scheme (NEPALPAY Card).

An agreement was signed and exchanged between Sanima Bank Limited and Nepal Clearing House Limited (NCHL) in the presence of senior officials of both companies.

With this agreement between NCHL and Sanima Bank, the bank will be able to issue and accept NEPALPAY Cards for its customers, after the completion of the bank’s switch integration with NPS-NCS.

Other 33 BFIs have already been enrolled as principal member of NPS-NCS and NEPALPAY card, with 12 BFIs already in live operations.

NCHL has recently executed the commercial rollout of NEPALPAY Card, Nepal’s national domestic card scheme, and its global acceptance through its collaboration with international Discover® Network.

The NEPALPAY card, launched under the National Payment Switch, allows the participating banks & financial institutions, payment service providers (PSPs), and payment system operators (PSOs) to issue NEPALPAY Cards that are accepted at POS and ATM terminals across Nepal and globally. It also allows the international Discover cards to be accepted in Nepal.

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 in card transaction, implement data localization for domestic transactions and support innovation in digital ecosystem with domestic card scheme.

The implementation of NPS-NCS and NEPALPAY is expected to drive Nepal’s card ecosystem in the next level.

Sanima Bank Limited, as one of the leading commercial banks, is providing its modern banking and financial services through 106 branches, 28 extension counters and 127 ATM Terminals.

It has recently implemented its own card switch to drive digital innovation.