About Nepal Clearing House Ltd. (NCHL)
Overview
Nepal Clearing House Ltd. (NCHL) is a public limited company established on 23 December 2008 (8 Poush 2065 B.S.) under the leadership and guidance of Nepal Rastra Bank (NRB), the central bank of Nepal. The company has equity participation from Nepal Rastra Bank, commercial banks, development banks, and finance companies.
NCHL was established to strengthen Nepal's payment infrastructure by developing and operating technology-driven payment, clearing, and settlement systems. Its objective is to help Banks and Financial Institutions (BFIs) improve operational efficiency, productivity, and customer service through shared payment infrastructure, reducing the need for significant individual investment in payment technologies.
Technology-Driven Payment Infrastructure
NCHL develops and operates national payment systems that support secure, efficient, and interoperable electronic payment services across Nepal. These systems facilitate payment processing, clearing, and settlement for financial institutions while promoting digital financial innovation.
Participating Banks and Financial Institutions use NCHL's infrastructure to process payment transactions efficiently through standardized and interoperable systems.
Payment Systems and Services
As part of its strategic objective to establish multiple payment, clearing, and settlement systems in Nepal, NCHL currently operates:
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NCHL-ECC (Electronic Cheque Clearing)
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NCHL-IPS (Interbank Payment System)
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Retail Payment Switch (RPS)
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connectIPS
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CORPORATEPAY
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connectRTGS
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National Payment Interface (NPI)
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NEPALPAY QR
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National Card Switch (NCS)
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NEPALPAY Card
Together, these platforms support electronic payments, interbank fund transfers, cheque clearing, corporate payments, real-time gross settlement, QR payments, card payments, and payment interoperability across Nepal's financial ecosystem.
National Payment System (NPS)
With the mandate and approval of Nepal Rastra Bank, NCHL is implementing Nepal's National Payment System (NPS) project to strengthen nationwide payment interoperability.
Phase One: Retail Payment Switch (RPS)
The first phase introduced the Retail Payment Switch (RPS), enabling interoperability for non-card-based payment transactions through centralized routing and settlement. This phase also established the NEPALPAY QR scheme to support interoperable QR-based digital payments.
Phase Two: National Card Switch (NCS)
The second phase focuses on interoperability for card-based transactions through the implementation of the National Card Switch (NCS) and the NEPALPAY Card, Nepal's domestic card scheme.
Both the Retail Payment Switch (RPS) and the National Card Switch (NCS) have been rolled out to support a more integrated national payment infrastructure.
Membership Structure
Banks and Financial Institutions participate in NCHL's payment systems as direct participating members and are responsible for their payment transactions and clearing operations.
Non-bank institutions participate as Indirect Members or Technical Members, initiating payment transactions through their respective banking partners using NCHL's payment infrastructure.
Supporting Nepal's Digital Financial Ecosystem
NCHL plays a central role in advancing Nepal's digital payment ecosystem by providing shared payment infrastructure that promotes interoperability, operational efficiency, and secure electronic transactions.
Through continuous development of payment, clearing, and settlement systems, NCHL supports the modernization of Nepal's financial sector while enabling financial institutions to deliver reliable and innovative digital payment services.
