Kathmandu. Standard Chartered Bank Nepal Limited and NCHL have signed an agreement for NPS National Card Switch and Principal Membership of National Domestic Card Scheme. The agreement was signed between Mr. Gorakh Rana, CEO & Head of Coverage, NCHL and Mr. Neelesh Man Singh Pradhan, CEO of NCHL.
NCHL, which is preparing to run the business after the preparation of NPS and NCS infrastructure, has been providing necessary coordination and support to the BFIs to integrate their own domestic card scheme for Nepal Pay Card Issue and Acquiring Switch. After the commercial rollout of Nepal Pay infrastructure, Standard Chartered Bank Nepal Limited will be able to acquire and issue the card to 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.
