NCHL & Mastercard Partner For QR Cross-Border Payments in Nepal
15th April 2205, Kathmandu
Nepal Clearing House Ltd., a payment system operator licensed by Nepal Rastra Bank, providing multiple payment systems in Nepal and Mastercard, a global technology company operating in the payments industry, have entered into a Memorandum of Understanding (MoU) for Quick Response (QR) payments using Mastercard cards for international tourists visiting Nepal.
NCHL & Mastercard Partner
Both parties shall explore a unique payment use-case to provide a seamless and convenient payment experience for international Mastercard cardholders to “Pay like a Local” at NCHL’s NEPALPAY QR and Interoperable QR merchants in Nepal.
By offering an additional platform for international tourists to make digital payments using their Mastercard cards at local QR merchants, the collaboration will enhance digital payment adoption by consumers and merchants across the country.
NEPALPAY QR and Interoperable QR have close to one million QR merchants in Nepal, whereas Mastercard has over 3.1 billion cards issued worldwide. This engagement between NCHL and Mastercard is expected to majorly support Nepal’s tourism sector for inbound international transactions.
About Nepal Clearing House
Nepal Clearing House Ltd. (NCHL) is a public limited company promoted by Nepal Rastra Bank and Banks & Financial Institutions of Nepal and has the objective to implement and operate multiple national payment systems. NCHL has been providing digital payment infrastructure services including electronic cheque clearing (ECC), interbank payment system (IPS), National Payment Switch (NPS), retail payment switch (RPS), National Card Switch (NCS), connectRTGS, National Payments Interface (Open API platform), connectIPS (faster payment system& gateway), Card processing services and CORPORATEPAY (B2B payment channel).
About NEPALPAY QR
NEPALPAY QR is the implementing infrastructure of NepalQR standard as part of the National Payment Switch (NPS) that operates as an independent QR scheme and also facilitates interoperability of QR at issuing, merchant and network level. The network has access to close to 1,000,000 merchants through NEPALPAY QR and its interoperable QR scheme with scan & pay available from over 42 mobile banking apps, 11 wallet apps, and connectIPS.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payment choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships, and networks combine to deliver a unique set of products and services that help people, businesses, and governments realize their greatest potential.
For Details: NCHL & Mastercard Partner
