6th June 2019, Kathmandu
Nepal Clearing House Ltd. (NCHL) has partnered with UKaid Sakchyam, access to Finance program to bring Connect IPS e-payment method in operation. The agreement has been made to implement the National Payment Interface and expand the Settlement Guarantee Fund.
Mr. Nirmal Dahal, team leader of Sakchyam and the Chief Executive Officer of NCHL Mr. Neelesh Man Singh Pradhan, have signed the agreement and was made official. The event took place in the presence of Executive Directors of Nepal Rastra Bank along with the presidents of Nepal Bankers Association, Nepal Financial Institutions Association, and Development Banks Association.
This collaboration will affect various groups from the banks of Nepal, bank-based financial institutions, including their customers, government and semi-government bodies, big corporate, small-scale companies, PSP / POS along with other beneficiaries in a country-wide scale.
The partnership aims to extend the current payment infrastructure for mobile and web-based payment method such that it will aid in establishing an efficient and reliable digital payment environment in Nepal. The three primary aims of this project are:
- Extension of Settlement Guarantee Fund (SGF)
- Promotion, awareness, and training of Connect IPS e-Payment system,
- Development and rollout of National Payments Interface (NPI)
Speaking in the event, the CEO of NCHL, Mr. Pradhan, said, “We have been initiating and operating various e-payment systems by abiding with Nepal Rastra Bank’s national payment system development strategy. With our current direction towards the consolidation of the systems that will support the BFIs and also support multiple beneficiaries of the payments industry for extending the digital payments services. And this collaboration with Sakchyam is expected to boost our initiatives.”