Global IME Bank and NCHL Reach Agreement for Payment Switch

  • Global IME Bank and NCHL reached an agreement for the implementation of the National Payment Switch
  • The first phase of service will roll out a biller gateway service for various types of transactions
  • The bank’s customers would be able to pay for government charges, credit card transactions, insurance, etc.

Leading commercial bank Global IME Bank and NCHL (Nepal Clearing House Limited) have agreed to implement the National Payment Switch into the bank’s services. In the first phase of this partnership, the collaboration has rolled out various payment modes for the bank’s customers.

The CEOs of Global IME Bank and NCHL Ratna Raj Bajracharya, and Nilesh Man Singh Pradhan respectively inked the agreement papers at a signing ceremony. The event was held at the bank’s corporate office in Kathmandu.  

As per the agreement, Global IME has introduced the biller gateway in the first phase of the National Payment Switch implementation. Now, the users of the bank’s Smart Banking app Global Smart can make payments for many governments, semi-government services, credit card bill payments, insurance fees, transactions, etc.

In addition, the bank will soon launch more services such as Nepal Pay QR, Nepal Pay Instant, Nepal Pay Request, etc. soon. Also read: National Payment Switch: Plan For Inter-Wallet Transaction

Global IME Bank has always been at the forefront to promote the growing and evolving digital payment system as a secure and reliable payment medium.

Global IME Bank and NCHL’s National Payment Switch

Global IME Bank is serving through 288 branches, 259 ATMs, 275 branchless banking services, 51 extension, and revenue collection counters, and 3 foreign representative offices totaling 870 service centers.

The bank has over 28 lakh customers across 76 districts in Nepal. As per the recent stats, Global IME is the highest profiting bank at present. Enhancing financial inclusivity is one of the key drives for the leading commercial bank. Similarly, the bank allows remittance transfers from the US, the UK, Canada, South Korea, Qatar, Jordan, India, Hong Kong, etc. Recommended: Global IME Bank Begins Video KYC (Mikha) Service

On the other hand, NCHL has reached an agreement with 27 commercial banks, 5 development banks, 12 finances, and 8 payment service providers for the integration of the National Payment Switch.

The institutions that have added the Switch have also installed payment equipment to facilitate transactions.

In the first phase of National Payment Switch, under Retail Payment Switch, Nepal Pay QR and Internet QR, Direct Debit Request-to-Pay, and e-Mandate devices as per Nepal-QR standard, interoperability between wallet-wallet, interoperability through Biller Gateway for various payments, etc. are available.

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