Kathmandu. BEST Finance and NCHL have signed an agreement for principal membership of NPS NCS and Domestic Card Scheme. Chief Executive Officer of the Bank BN Gharti and Chief Executive Officer of NCHL Nilesh Man Singh Pradhan signed the agreement on behalf of their respective sides.
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, Best Finance 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.
