Kathmandu. Machhapuchchhre Bank Limited has partnered with Nepal Clearing House Limited (NCHL) to launch ‘NepalPay Card’ service to further strengthen its digital payment system. The agreement was signed by the bank’s Chief Executive Officer Mr. Madhav Subedi and Chief Executive Officer of NCHL Mr. Neelesh Man Singh Pradhan.
As per the agreement, the bank will be able to issue NepalPay cards to its customers. In addition, the company will acquire international cards and UnionPay cards under Discover Network to develop the capacity to process NepalPay card transactions. Initially, the bank will provide its card quarrying facility through 199 ATMs and more than 3000 POS Terminals.
NCHL has already started commercial expansion of the NepalPay Card. The card can be used worldwide through international partner Discover Network. Launched under the National Payment Switch, the NepalPay Card aims to connect banks & financial institutions, Payment Service Providers (RSPs) and System Directors on one platform.
Currently, 10 banks and financial institutions have been processing international card schemes through NCHL’s EFT service. With the integration of EFT and National Payment Switch, the use of Nepalpay card is expected to expand further. More than 34 banks and financial institutions have already joined NepalPay.
Machhapuchchhre Bank has been serving more than 18 lakh customers. It has 165 branches, 12 extension counters, 88 branchless services and 199 ATMs across the country. According to the bank, the bank has continued to expand its services by giving priority to digital transformation.
