Kathmandu. Jyoti Bikas Bank and NCHL have signed an agreement to enable NepalPay card payment through EFT card switch. Mr. Kapil Dhakal, CEO of Jyoti Bikas Bank and Mr. Neelesh Man Singh Pradhan, CEO of NCHL signed the MOU. NCHL’s EFT Switch has been integrated with National Card Switch and following this agreement, the bank will be able to issue NepalPay cards to its customers. In addition, NepalPay card transactions can be processed by acquiring international cards and RUPAY cards under the Discover network.
With the commercial rollout of the Nepal Pay Card launched by NCHL, the international network in collaboration with Discover has made the NepalPay Card accessible globally. Nepal Pay Cards issued by banks and financial institutions, payment service providers and payment system operators can now be used at ATMs and POS Terminals in Nepal and abroad.
Currently, 11 member banks and financial institutions are processing various international card schemes through NCHL’s EFT services. Now, with the integration between EFT and National Payment Switch, the NepalPay Card can also be processed. Other EFT member banks and financial institutions are also preparing to acquire and issue NepalPay cards. More than 36 BFIs have joined NepalPay and are in various stages of rollout. Eight BFIs have already started issuing NepalPay cards while more than 11 BFIs have started acquiring NepalPay cards.
As one of the leading banks in Nepal, Jyoti Bikas Bank has been providing services and services to more than 1 million customers. In recent years, the bank has been focusing on digitalization and has been rapidly transforming its internal system and customer service. With a strong presence across the country, the bank has been expanding its customer base through a network of 121 branches, 2 extension counters and 75 ATMs.
