Nepal Clearing House Limited (NCHL) has launched the National Card Switch and NepalPay Card service for over 190 countries and regions, marking a global exposure for the digital payment product. The foreign expansion of these two services (part of the National Payment Switch) comes after striking a partnership with Discover Network. This allows customers to use NepalPay cards at ATMS and POS terminals across the world.
NepalPay Card goes global
NepalPay Card can now be used in over 190 countries, while Nepali merchants can receive payment from over 378 million cards, part of the network alliances and Diners Club card network members.
So far, more than 34 banks and financial institutions have signed agreements for membership of National Card Switch and NepalPay under the National Payment Switch, and other institutions are gradually being added. NPS-NCS has features such as inter-contracting of card-related transactions as well as routing, settlement, dispute handling, and integrated reporting.
Neelesh Man Singh Pradhan, Chief Executive Officer, NCHL, said, “Our partnership with Discovery Networks reflects our commitment to providing a secure, reliable, and internationally recognized payment card scheme with global acceptance.
Subhrajit Basu, Vice President, International Markets, Discover, said, “This strategic partnership with NepalPay will help us expand our presence and services in the Asia-Pacific region. With every transaction, merchants and cardholders will gain access to quality and secure payment services.”
NCS and NepalPay Card are expected to reduce costs in domestic card transactions, implement data localization, and promote innovation in the digital ecosystem.