Jyoti Bikash Bank NEPALPAY Card: NCHL Partnership, Domestic Card Scheme, Digital Payments Nepal
6th May 2025, Kathmandu
Jyoti Bikash Bank Limited and Nepal Clearing House Limited (NCHL) agreed to principal membership of NPS-National Card Switch & Domestic Card Scheme (NEPALPAY Card).
Jyoti Bikash Bank NEPALPAY Card
The agreement was signed and exchanged between Mr. Prakash Baral, Senior Deputy Chief Executive Officer of Jyoti Bikash Bank Ltd, and Mr. Neelesh Man Singh Pradhan, Chief Executive Officer of NCHL.
NCHL recently announced the readiness of infrastructure for NPS-NCS and requested BFIs to initiate integrating their switch for issuing and acquiring Nepal’s domestic card scheme NEPALPAY Card, corresponding to which BFIs are getting onboarded within NPS-NCS and NEPALPAY. Post commercial rollout of NEPALPAY infrastructure, Jyoti Bikash Bank will be able to issue and acquire such a card for its customers.
NPS-NCS is being established as a central payment infrastructure for routing and settlement of domestic card transactions, to ensure interoperability in routing and settlement of domestic card transactions, reduce the cost and dependency on international card schemes, implement data localization for domestic transactions, and support innovation in the digital ecosystem with domestic card schemes.
NCHL has been providing multiple national payment systems for its members, including 54+ BFIs, the majority of the PSOs & PSPs, and 100+ indirect & technical members. The implementation of NPS-NCS and NEPALPAY is expected to drive Nepal’s card ecosystem to the next level. Jyoti Bikash Bank, as one of the leading development banks, is providing its modern banking and financial services through 124 branches along with extension counters and 75 ATM Terminals.
About Jyoti Bikash Bank
Jyoti Bikash Bank Limited began operations on 9th Shrawan 2065. It was founded by Nepal Electricity Authority employees, businesspeople, and citizens. The bank started with a goal to support the hydropower sector through credit. Over time, it shifted to serve a wider population, offering services to individuals, small businesses, and large corporations.
Its paid-up capital grew from Rs. 259 million to Rs. 4.26 billion. The bank merged with Jhimruk Bikas Bank and acquired Raptiveri and Hamro Bikas Banks. Today, it operates 121 branches, 3 extension counters, and 75 ATMs. Jyoti Bikash Bank is also expanding digital services to reach more tech-savvy customers nationwide.
About NCHL
Nepal Clearing House Ltd. (NCHL), established on 23rd December 2008, operates under Nepal Rastra Bank’s leadership. It includes equity from NRB, commercial banks, and financial institutions. NCHL supports banks with tech-driven payment solutions without heavy infrastructure costs. It runs key systems like NCHL-ECC, NCHL-IPS, connectIPS, CORPORATEPAY, connectRTGS, and NPI.
With NRB’s approval, NCHL launched the Retail Payment Switch under the NPS project. This enables QR-based and non-card payment interoperability. The next phase will introduce the Interoperable Card Switch and a Domestic Card Scheme. BFIs and non-bank institutions are active members in its growing network.
For more: Jyoti Bikash Bank NEPALPAY Card
