NCHL Finalizes Acquisition of NEPS: A Step Forward in Nepal's Payment Systems

Nepal Clearing House Limited (NCHL) has finalized the acquisition of Nepal Electronic Payment Systems Limited (NEPS).

The agreement was formally exchanged between NCHL and NEPS coordinator Mahesh Sharma Dhakal and Mr. Sanjeev Shrestha during a meeting of the Joint Merger Committee.

Both organizations, along with their respective Board of Directors, are set to seek shareholder approval through separate special general meetings. Upon Nepal Rastra Bank's final acceptance, the necessary processes will be completed at the company registrar's office to finalize the acquisition process.

Neps has been providing card switch infrastructure services to banks and financial institutions, while NCHL offers various electronic payment systems and platforms to its members. The partnership aims to enhance electronic payment infrastructure, aligning with Digital Nepal's vision, and expanding national payment switch infrastructure.

The acquisition will bolster NCHL and NEPS' presence in national and international payments, making them more competitive and profitable. NCHL is currently implementing the National Card Switch and NepalPay Domestic Card under NPS, serving numerous banks, financial institutions, and other entities.

NEPS, established in 2069, provides card issuance, acceptance, and transaction services for multiple banks and financial institutions, operating over 1,600 ATMs and more than 9,000 POS and e-commerce services.