Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: NIC Asia Bank has signed a strategic agreement with Nepal Clearing House Limited (NCHL) to issue NEPALPAY Cards, becoming one of the key banking partners in Nepal’s domestic card scheme and the National Card Switch framework.
According to the bank, the agreement aims to strengthen Nepal’s digital payment ecosystem by expanding access to locally operated, reliable, and cost-effective card services. The pact was signed by NIC Asia Bank CEO Sujit Kumar Shakya and NCHL CEO Nilesh Man Singh Pradhan.
NIC Asia Becomes Major Partner for NEPALPAY Card Issuance
Under this partnership, NIC Asia Bank will issue NEPALPAY Cards to its customers through NCHL’s Domestic Card Scheme, a payment system authorized by Nepal Rastra Bank as a Payment System Operator (PSO). The collaboration also positions the bank as a lead partner of NCHL’s National Card Switch (NPS–NCS), an infrastructure designed to streamline domestic card transactions.
The bank said the agreement enables it to become fully integrated with the national payment switch, allowing customers to use a domestically issued card across multiple payment channels.
POS and ATM Transactions to Operate Under National Fee Structure
The agreement ensures that all POS and ATM transactions performed through NEPALPAY Cards will fall under the national fee structure. This is expected to reduce costs for customers and bring uniformity to card-based transactions nationwide.
NCHL’s national switch will connect ATMs, POS machines, and digital banking channels across Nepal under a common domestic framework, reducing dependence on international card networks for local transactions.
Supports Digital Banking Expansion and Cashless Economy Goals
NIC Asia Bank said NEPALPAY Cards will strengthen digital banking penetration, especially among users seeking a secure and affordable alternative to international cards. The bank believes the domestic card scheme will contribute significantly to financial inclusion and encourage broader use of digital payment channels.
With increasing focus on a cashless economy, the NEPALPAY Card is expected to help streamline everyday payments across the country and support Nepal’s national digital payment agenda.
Bank officials stated that active participation by customers in the Domestic Card Scheme will help expand easy banking access while contributing to the development of a nationwide digital and cashless economy.
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