Kathmandu, Rastriya Banijya 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. Devendra Raman Khanal, Chief Executive Officer of Rastriya Banijya Bank Ltd. and Mr. Neelesh Man Singh Pradhan, Chief Executive Officer of NCHL.
With this agreement, 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 34 BFIs have already been enrolled as principal member of NPS-NCS and NEPALPAY card, with 5 BFIs already in live operations.
NCHL has recently rollout NEPALPAY Card as Nepal’s national card scheme, and its global acceptance through collaboration with international Discover® Network. The NEPALPAY card, launched under the National Payment Switch (NPS), 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 including RUPAY card 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. The implementation of NPS-NCS and NEPALPAY is expected to drive Nepal’s card ecosystem to the next level.
Rastriya Banijya Bank Limited, as one of the leading commercial banks, is providing its modern banking and financial services through 314 branches, 71 extension counters, 332 ATM and 2009+ POS Terminals and 99 Branchless Banking.
For more details, visit www.nchl.com.np and/or www.rbb.com.np.
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