Manjushree Finance partners with NCHL to launch NepalPay Card Services

KATHMANDU, JUNE 3: Manjushree Finance has signed an agreement with Nepal Clearing House Ltd. (NCHL) to become a principal member of the National Payment Switch – National Card Switch (NPS–NCS) and the domestic card scheme, NepalPay Card. The agreement was signed by Padam Thakulla, Deputy Chief Executive Officer of Manjushree Finance, and Nilesh Man Singh Pradhan, Chief Executive Officer of NCHL.

NCHL recently announced the completion of its NPS–NCS infrastructure and has invited banks and financial institutions (BFIs) to integrate their systems in order to issue and acquire Nepal’s own domestic card—NepalPay. In response,  they are also acting as per the invitation

With the commercial rollout of the NepalPay infrastructure, Manjushree Finance will soon begin issuing and acquiring NepalPay Cards for its customers. The NPS–NCS platform is being developed as a centralized card switch that ensures interoperability among various card networks while enabling efficient routing and settlement of domestic card transactions.

Once fully implemented, the system is expected to reduce the cost of domestic transactions, ensure data localization within Nepal, and foster innovation across the digital payment ecosystem.

NCHL currently operates various national payment systems and serves over 54 BFIs, most payment system operators (PSOs) and payment service providers (PSPs), along with more than 100 non-bank members. The integration of NPS–NCS and the NepalPay QR Code is anticipated to significantly enhance Nepal’s card-based payment infrastructure.

Manjushree Finance, through its 27 branches, one extended counter, and one ATM terminal nationwide, has been providing modern banking and financial services and is now poised to offer domestic card services aligned with the national digital payment vision.