Kathmandu. NIC ASIA Bank and NCHL have signed an agreement for Principal Membership of NPS, NCS and Domestic Card Scheme. Mr. Sujit Kumar Shakya, CEO of NIC Asia Bank and Mr. Nilesh Man Singh Pradhan, CEO of NCHL signed the agreement on behalf of their respective organizations.
NCHL has recently announced that the infrastructure of NPS NCS has been completed, urging the BFIs to integrate their switch for the issuing and acquiring of Nepal Pay Card as its own domestic card scheme. After the commercial rollout of Nepal Pay infrastructure, NIC ASIA Bank will be able to issue and acquire the card for its customers.
NPS NCS is being established as a central card switch for routing and settlement of domestic card transactions, maintaining interconnectedness between various card switches. Upon full implementation, it is expected to reduce the cost of domestic card transactions, ensure data localization and promote the latest tools in the digital ecosystem.
NCHL has been serving over 54 BFIs, most PSOs & PSPs, and more than 100 Non-Banking members at various national payment systems.
