Kathmandu. Jyoti Bikas Bank and NCHL have signed an agreement for principal membership of NPS NCS and Domestic Card Scheme. Prakash Baral, Senior Deputy CHIEF Executive Officer of the Bank and Nilesh Man Singh Pradhan, CHIEF Executive Officer of NCHL signed the agreement on behalf of their respective sides.
Banks and financial institutions are joining NPS NCS and NepalPay card after NCHL recently announced the completion of preparations for nps NCS infrastructure and urged banks and financial institutions to integrate their switch for nepal’s own domestic card scheme NepalPay card issuing and acquiring. After the commercial rollout of NepalPay Infrastructure, Jyoti Bikas 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 Pay Card is expected to further elevate nepal’s card ecosystem. Jyoti Bikas Bank, one of the leading banks in Nepal÷ has been providing state-of-the-art banking and financial services to its customers through 124 branches, extended counters and 75 ATM terminals across the country.
