Payments

Nepal Clearing House selects ACI for interoperable card-based payments

Photo: Adobe Stock

February 19, 2024

Nepal Clearing House selected ACI Worldwide for its Enterprise Payments Platform to create and manage a National Payment Switch. This service will include interoperable card-based transactions and domestic NEPALPAY cards, according to a press release.

With these solutions, the Nepal Clearing House can route and settle card and non-card digital payments. The country has been working on developing a digital payment ecosystem, with the percentage of adults using financial service up to 90% in 2022, compared to 61% in 2014.

"The establishment of National Payment Switch infrastructure and rollout of NEPALPAY card is expected to become a significant stride in Nepal to reform and consolidate the entire payment ecosystem. Our partnership with ACI aligns with our mission to facilitate the development of secure and trusted new payment methods and technologies in Nepal," Neelesh Man Singh Pradhan, CEO of NCHL, said in the release. "ACI has a stellar track record in providing scalable and innovative solutions to build transformative payment capabilities, and we are excited to bring seamless and convenient card payment services in Nepal."