Kathmandu, December 26
Nepal Clearing House Limited (NCHL) and Nepal Electronic Payment System (NePS) are set to merge.
The initial steps towards this merger were taken during a formal program organised to celebrate the 15th anniversary of NCHL.
During the event, a Memorandum of Understanding (MoU) was exchanged between Mahesh Sharma Dhakal, the Coordinator of NCHL’s Merger Acquisition Committee, and Sanjiv Kumar Shrestha, the Coordinator of NePS’s Merger Committee.
Nepal Rastra Bank Governor Maha Prasad Adhikari, Deputy Governor Neelam Dhungana, and others were in attendance.
Both NCHL and NePS have been granted permission by Nepal Rastra Bank to operate as payment system operators in their respective domains. Their collaboration and eventual merger represent a strategic move in supporting and promoting banks and financial institutions.
Established on December 23, 2008, NCHL has been actively operating national payment systems such as IPS, RPS, Connect IPS, Corporate Pay, Connect RTGS, National Payment Interface, and Nepal Pay QR.
Currently, NCHL is in the process of implementing the National Card Switch and NepalPay Domestic Card under NePS. More than 53 banks, financial institutions, and over 95 other institutions use NCHL’s systems.
Similarly, NePS, founded on March 1, 2013, has been playing a central role in issuing, accepting, and processing cards for various banks and financial institutions.
