- Nepal Clearing House (NCHL) has partnered with ACI Worldwide to leverage its enterprise payments platform for its upcoming National Payment Switch (NPS) system.
- The NPS initiative aims to provide core infrastructure in Nepal to support interoperability between different card payment systems through the NPS National Card Switch (NPS-NCS) solution.
- NCHL plans to launch a domestic card scheme called Nepalpay as part of the NPS initiative, focusing on increasing acceptance, implementing data localization, and reducing transaction charges.
- NCHL, supervised by Nepal Rastra Bank, will use ACI’s payments platform to ensure compatibility between retail card and non-card transactions and reduce reliance on international payment gateways.
- ACI’s payments platform powers around one-third of all global real-time payment systems, including 25 domestic and pan-regional real-time schemes.
- NCHL aims to deliver the NPS system using ACI’s platform in Q4 2024, contributing to the reform and consolidation of the entire payment ecosystem in Nepal.
- The partnership aligns with NCHL’s mission to facilitate the development of secure and trusted payment methods and technologies in Nepal.
