Nepal Clearing House Ltd. (NCHL) is a public limited company established on 23rd December 2008 (8th Poush, 2065) under the leadership and guidance of Nepal Rastra Bank (The Central Bank of Nepal). It has the equity participation from Nepal Rastra Bank, commercial banks, development banks, finance companies and Smart Choice Technologies (SCT), a private card switch operator. NCHL recognizes banking & financial technology oriented services as one of the key ingredients for the Banks/FIs to improve their efficiency, productivity and also provide innovative financial solutions to their customers. And NCHL intends to help them realize these by providing various technology based payment related services without having to invest heavily into infrastructures by the Banks/FIs.
NCHL has the strategic objectives to establish multiple payments, clearing and settlement systems in Nepal with long term objective to establish a national payments gateway to facilitate electronic payments and financial transactions within the country. Electronic Cheque Clearing (NCHL-ECC) , Interbank Payment System (NCHL-IPS) and connectIPS e-Payment System are the national payment systems that are currently in operation.
NCHL-ECC System provides the means to electronically transfer cheque images through a secure medium thus completely replacing the traditional physical routine of moving paper-cheques between the banks and clearing house. This has resulted in significant reduction of tedious and time consuming manual process of cheque clearing, both for the banks and for the customers.
NCHL-IPS System provides safe and efficient means of funds tranfer from one account to any other account held at any of the participating member BFIs thereby supporting direct credit (payments) and direct debit (collection) related transactions.
connectIPS e-Payment System is a standardized single payments platform that facilitates Online fund transfer (P2P), Government revenue payment (C2G), Creditor payments (C2B) and payment processing (e-commerce payments) with all payment processed directly from/to the bank account.
Individual BFIs are enrolled in the NCHL as participating members and are responsible for their payment transactions and clearing operations. Within NCHL-IPS and connectIPS e-Payment System, other non-bank institutions are also enrolled as Indirect or Technical members for initiating their payment transactions.