Mahalaxmi Bikas Bank Joins NCHL’s NEPALPAY Card Scheme & National Card Switch
23rd May 2025, Kathmandu
Mahalaxmi Bikas Bank Limited and Nepal Clearing House Limited (NCHL) agreed to principal membership of NPS-National Card Switch & Domestic Card Scheme (NEPALPAY Card).
Mahalaxmi Bikas NCHL NEPALPAY Card
The agreement was signed and exchanged between Mr. Dipesh Lamsal, Chief Executive Officer of Mahalaxmi Bikas 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, Mahalaxmi Bikas 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. Mahalaxmi Bikas Bank, as one of the leading development banks, is providing its modern banking and financial services through 103 branches and 49 ATM Terminals nationwide.
About Mahalaxmi Bikas
Mahalaxmi Bikas Bank Limited is a national-level development bank in Nepal. It was established in 1995. The bank has over 100 branches and serves more than 800,000 customers. Its head office is located at Durbarmarg, Kathmandu. It operates with a paid-up capital of NPR 4.17 billion.
The bank provides various digital services. These include mobile banking, internet banking, and QR payments. It also offers remittance, locker, and DEMAT services. Its motto is “Service with a Smile.”
Mahalaxmi Bank aims to be the most trusted bank. It focuses on innovation, strong governance, and professional culture. The mission includes protecting customer deposits and delivering excellent service.
The bank has received several awards. These recognize its customer focus, reporting quality, and investment in people. It is ISO 9001:2015 certified.
Customer satisfaction, employee welfare, and compliance are top priorities. As a result, the bank continues to grow and build trust across Nepal.
About NCHL
Nepal Clearing House Limited (NCHL) was established in 2008 as a public limited company. It operates under the guidance of Nepal Rastra Bank. Ownership includes the central bank, commercial banks, development banks, and finance companies.
NCHL develops digital payment infrastructure in Nepal. It offers services like electronic cheque clearing, interbank payments, and real-time settlement. Key platforms include NCHL-ECC, NCHL-IPS, connectIPS, CORPORATEPAY, connectRTGS, NEPALPAY QR, and EFT services.
The company promotes secure and efficient electronic transactions. It focuses on reducing dependency on cash and paper-based systems. Its platforms support retail, corporate, and government payments.
The goal is to create a national payment gateway. This supports Nepal’s move toward a cashless economy. The systems are designed to be inclusive and user-friendly.
For more: Mahalaxmi Bikas NCHL NEPALPAY Card
