NCHL Begins Integrated Operations After Acquiring NePS from Today

June 3, 2024 | Investopaper

Starting Monday, Nepal Clearing House Limited (NCHL) has commenced integrated operations following the acquisition of Nepal Electronic Payment Systems (NePS), a payment service provider.

On Chaitra 23, 2080 BS, a principled agreement was reached between the two companies for the acquisition. This acquisition was driven by strong pressure from Nepal Rastra Bank.

Nepal Rastra Bank announced that the merged entity, operating under the name ‘Nepal Clearing House Limited’, would begin operations on Monday (Jestha 21, 2080 BS).

Both NCHL and NePS, promoted by banks and financial institutions, have been operating in their respective fields for a long time with permission from Nepal Rastra Bank to run payment systems.

Until now, NePS has been providing services to banks and financial institutions by expanding the infrastructure for card switch systems for various card schemes. Meanwhile, NCHL has been offering services through various electronic payment systems, infrastructures, and platforms, excluding cards. Moving forward, these services will be provided through a single entity.

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