Nepal Clearing House Limited and Smart Choice Technology Sign Agreement for NepalPay Card Infrastructure

Nepal Clearing House Limited (NCHL) and Smart Choice Technology (SCT) have signed an agreement to develop the infrastructure necessary for issuing and acquiring NepalPay cards. The memorandum of understanding was signed by NCHL's CEO Mr. Neelesh Man Singh Pradhan and SCT's CEO Mr. Manoj Ghimire.

This initiative is part of the second phase of the National Payment Switch, guided by Nepal Rastra Bank, which involves connecting and testing for the implementation of the domestic card scheme "NepalPay" and the National Card Switch.

After system upgrades, the NepalPay card will be available to technical members, enabling routing, switching, and settlement through NCHL's National Payment Switch.

NCHL currently supports card servicing for 12 bank financial institutions, while SCT provides services to various banks. The introduction of NepalPay is expected to facilitate easier transactions for bank customers, enhancing the growth of card-related transactions in Nepal.