Kathmandu. Rastriya Banijya Bank (RBB) and NCHL have signed an agreement for the appointment of Principal Members of NPS, NCS and NepalPay Card. Mr. Neelesh Man Singh Pradhan, Chief Executive Officer, NCHL and Mr. Devendra Raman Khanal, Chief Executive Officer, Rastriya Banijya Bank exchanged the MOU amidst a program held in Kathmandu.
According to the agreement, the bank will be able to issue its customers NepalPay Card and accept the transaction of Nepal Pay after the bank’s switch integration with NPS NCS. Till date, 34 other BFIs have joined NPS NCS as Principal Members, out of which 5 BFIs have started live operations.
NCHL has recently started commercial rollout of Nepal Pay Card and in collaboration with its international network Discover, the NepalPay Card will be available globally. With the launch of National Payment Switch, NepalPay cards issued by the banks and financial institutions, payment service providers and payment system operators can be used at ATMs and POS terminals in Nepal and abroad. In addition, RuPay card and international discover cards can also be used in Nepal.
NPS NCS has been established as a Central Card Switch for the routing and settlement of domestic card transactions, maintaining interconnectedness between various card switches. The system is expected to reduce the cost of domestic card transactions, ensure data localization, and promote the development and development of innovative tools in the digital ecosystem
