Laxmi Sunrise Bank and NCHL have signed an agreement for principal membership of NPS NCS and Domestic Card Scheme (Nepal Pay Card). Dipesh Amatya, Chief Retail and Financial Services of the Bank and Nilesh Man Singh Pradhan, CHIEF Executive Officer of NCHL signed the agreement on behalf of their respective organizations.
Banks and financial institutions are joining NPS NCS and Nepal Pay Card after NCHL recently announced the completion of nps NCS infrastructure and urged banks and financial institutions to integrate their switch for nepal’s own domestic card scheme Nepal Pay Card issuing and acquiring. After the commercial rollout of Nepal Pay Infrastructure, Laxmi Sunrise Bank will be able to issue and acquire the card for the customers.
NPS NCS is being established as a central card switch for rounding and settlement of domestic card transactions by maintaining interconnection between various card switches. Full implementation of this system is expected to reduce the cost of domestic card transactions, ensure data localization and develop and promote the latest tools in the digital ecosystem.
NCHL serves more than 54 banks and financial institutions, mostly PSOs and PSPs, and more than 100 non-banking members by operating various national payment systems. The implementation of NPS NCS and Nepal PayCad is expected to further elevate Nepal’s card ecosystem. Laxmi Sunrise Bank, one of the leading banks in Nepal, has been providing state-of-the-art banking and financial services to its customers through 254 branches, 27 extended counters and 329 ATM terminals across the country.
