NIC Asia Bank is set to introduce the NEPALPAY Card for its customers. The bank has reached an agreement with Nepal Clearing House Ltd. (NCHL) for this card service, seeking to strengthen the electronic transaction system.
The agreement was signed by Sujit Kumar Shakya and Neelesh Man Singh Pradhan, Chief Executive Officers of NIC Asia Bank and NCHL, respectively.
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NIC Asia Bank brings NEPALPAY Card payment scheme
NIC Asia Bank says that NEPALPAY Card will provide customers a more modern, reliable, and national standards-compliant domestic card services and advanced digital banking services.
The bank believes that digital payments through NEPALPAY Card will make a significant contribution to expanding financial access in the country. Additionally, it feels that the active participation of NMB Bank customers in the Domestic Card scheme will provide easy and convenient access to banking services and will also help in developing a cashless economy in the country.
If you were unaware, NCHL is a Payment System Operator (PSO). It has launched the NEPLPAY Card as a Domestic Card Scheme. The agreement with NISA Asia Bank means the latter is now a partner for the PSO’s national card switch scheme.
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Likewise, the agreement enables the bank to integrate into Nepal’s national payment switch and issue the NEPLPAY Card transaction service.