NCHL Products

13th April 2022, Kathmandu

Machhapuchhre Bank Limited (MBL) has successfully integrated NEPALPAY QR in its mobile banking app, MBL M-Smart, such that its customers can now scan and initiate NEPALPAY QR payments, available at various merchants and payment gateway.

MBL has also initiated acquiring merchants for NEPALPAY QR.

MBL is one of the first banks to join the National Payment Switch and to enable NEPALPAY QR. MBL has over 6 lakh mobile baking users and has already acquired over 6,500 QR merchants.

The business customers of MBL can now be enrolled as merchants to manage their receivables from their customers using MBL M-Smart or any other instruments enabled with NEPALPAY QR.

NEPALPAY QR has been implemented and operated by NCHL as an implementing infrastructure of the NepalQR standard issued by Nepal Rastra Bank as part of the National Payment Switch.

The infrastructure allows for the deployment of independent QR schemes and facilitates the interoperability of QR at the merchant and network levels. Apart from MBL, merchant acquisition in NEPALPAY QR is already initiated by Himalayan Bank, NIC Asia Bank, Kamana Sewa Bikas Bank, and Focusone Solutions Pvt. Ltd. as well as other BFIs in process of initiating the acquisition.

The enablement of QR in the mobile banking app of MBL and acquiring of merchant QR are expected to further increase the digital transactions at the retail level, which has always been the major focus for the bank.

MBL has been serving its customer from its164 branches, 8 extension counters, 165 branchless banking points, and 203 ATMs spread across the country.

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