22nd December 2021, Kathmandu
A formal agreement has been signed between NCHL and Guheshwari Merchant Banking and Finance Ltd. for the launch of the first phase of the National Payment Switch being implemented by Nepal Clearing House Limited.
The agreement has been signed by Mr. Rajesh Kumar Shrestha, Chief Executive Officer of Guheshwori Merchant Banking and Finance Ltd., and Mr. Nilesh Man Singh Pradhan, Chief Executive Officer of Nepal Clearing House Ltd.
As per the agreement, Guheshwori Merchant Banking & Finance will provide NepalPay QR and Internet Network QR, Direct Debit Request-to-Pay, and e-Mandate through inter-payment gateways and various payment gateways for various payments as per Nepal-QR standard under retail payment switch in the first phase of National Payment Switch. Payment tools including settlement can be used.
The switch will be the primary basis for retail payments and will enable finance to provide additional services to its customers through various real-time, non-real-time, and open APIs.
Guheshwori Merchant Banking & Finance Ltd. has always been providing various digital payment platforms for its customers and the launch of the first phase of National Payment Switch is believed to provide additional services to the customers of Finance.
At present, there are 35 banks / financial institutions and 3 payment system providers and a total of 38 institutions affiliated with the National Payment Switch