Kathmandu, Mahalaxmi Bikas Bank Limited and Nepal Clearing House Limited (NCHL) entered into an
agreement for principal membership of NPS-National Card Switch & Domestic Card Scheme (NEPALPAY
Card). The agreement was signed and exchanged between Mr. Dipesh Lamsal, Chief Executive Officer of
Mahalaxmi Bikas Bank Ltd and Mr. Neelesh Man Singh Pradhan, Chief Executive Officer of NCHL.
NCHL recently announced the readiness of infrastructure for NPS-NCS and requested BFIs to initiate
integrating their switch for issuing and acquiring of the Nepal’s own domestic card scheme NEPALPAY
Card, corresponding to which BFIs are getting onboarded within NPS-NCS and NEPALPAY. Post
commercial rollout of NEPALPAY infrastructure, Mahalaxmi Bikas Bank will be able to issue and acquire
such card for its customers.
NPS-NCS is being established as a central payment infrastructure for routing and settlement of domestic
card transactions to ensure interoperability in routing and settlement of domestic card transactions,
reduce the cost and dependency on international card schemes, implement data localization for domestic
transactions and support innovation in digital ecosystem with domestic card scheme.
NCHL has been providing multiple national payment systems for its member including 54+ BFIs, majority
of the PSOs & PSPs and 100+ indirect & technical members. The implementation of NPS-NCS and
NEPALPAY is expected to drive Nepal’s card ecosystem in next level. Mahalaxmi Bikas Bank as one of
the leading development banks is providing its modern banking and financial services through 103
branches and 49 ATM Terminals nationwide.