Focusone Payment Solutions the first PSP joins National Payment Switch

PSP joins National Payment Switch
Share It On:

8th December 2021, Kathmandu

Focusone Payment Solutions Pvt. Ltd. (MOCO) has signed an agreement today to join in the first phase of the National Payment Switch (NPS) that Nepal Clearing House Ltd. is rolling out.

The agreement was signed between Mr. Pranaya Rajbhandari, Chief Executive Officer, Focusone Payment Solutions Pvt. Ltd. and Mr. Neelesh Man Singh Pradhan, Chief Executive Officer, Nepal Clearing House Ltd. With this, FOCUSONE has become the first PSP to join NPS.

Focusone will use for itself and facilitate another member BFIs in rolling out various instruments and use cases of the National Payment Switch.

Implementation of National Payment Switch is one of the national agendas of the Government of Nepal budget plan and NRB’s Monetary Policy, corresponding to which Nepal Rastra Bank had provided final approval for rollout of the first phase of NPS.

While the complete infrastructure and procedures required for the first phase of NPS have been completed, NCHL is now collaborating with the BFIs and PSPs for its rollout and business operations, under which the agreement between Focusone and NCHL has been signed.

The first phase of NPS includes retail payment switch to remain an implementing infrastructure for NepalQR Standards, including NEPALPAY QR scheme and inter-network QR; direct debit Request-To-Pay and e-mandate instruments; wallet to wallet interoperability; and biller gateway for service interoperability.

The infrastructure will remain as the primary digital payments infrastructure having real-time and non-real-time switches and open APIs that the BFIs and non-BFIs can use to establish multiple digital payment use cases.

The second phase of the NPS project is a work in progress intended to establish a national card switch and Nepal Payment Card to ensure interoperability of domestic card transactions and introduce Nepal’s domestic card scheme.

With the establishment of the National Payment Switch, NCHL expects to support and work together with the regulator and all the stakeholders to increase and improve the digital ecosystem in Nepal.

Focusone Payment Solutions Pvt. Ltd. is a payment service provider licensed by Nepal Rastra Bank. Since its establishment, it has adopted various industry standards to ensure highly secured transactions and extend various services to its users.

It has always been at the forefront while adopting and providing new technology and services to users by collaborating with national and international partners.

Please visit www.nchl.com.np for more details.


Share It On:

Recent Posts

Liberty Energy Rights Shares Offering: Eligibility, Application Process, and Future Plans

Liberty Energy Rights Shares Offering: Eligibility, Application Process, and Future

Share It On:22nd November 2024, Kathmandu Liberty Energy Company Limited is gearing up to issue rights shares starting December 1,

Asha Laghubitta’s 8th AGM 2024: Key Decisions and Future Plans

Asha Laghubitta’s 8th AGM 2024: Key Decisions and Future Plans

Share It On:22nd November 2024, Kathmandu Asha Laghubitta Bittiya Sanstha is holding its 8th Annual General Meeting (AGM) today, November

6th Asian Population Conference 2024 in Nepal: Advancing Sexual and Reproductive Health Policies

6th Asian Population Conference 2024 in Nepal: Advancing Sexual and

Share It On: 21st November, Kathmandu Nepal is set to host the 6th Asian Population Conference from November 27 to

Kumari Bank Promoter Share Sale: Eligibility, Application Process, and Price

Kumari Bank Promoter Share Sale: Eligibility, Application Process, and Price

Share It On:21st November, Kathmandu Kumari Bank Limited has officially declared its intention to sell a substantial number of promoter

Up to NPR 150 Cashback on Nepal Telecom and Ncell Services with Namaste Pay

Up to NPR 150 Cashback on Nepal Telecom and Ncell

Share It On:21st November, Kathmandu Namaste Pay has unveiled an exciting new campaign to reward its users with cashback on

Ncell introduces innovative feature, enabling customers to convert voice to data or data to voice services

Ncell introduces innovative feature, enabling customers to convert voice to

Share It On:21st November, Kathmandu Ncell customers can enjoy an innovative feature that allows them to convert or exchange remaining