- 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.
Nepal Clearing House selects ACI Worldwide to power National Payment Switch service
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