Nepal Clearing House Chooses ACI Worldwide to Spearhead Card Payment Central Infrastructure

ACI Worldwide (NASDAQ: ACIW), a global leader in real-time payments software, has announced that Nepal Clearing House (NCHL), under the guidance of Nepal Rastra Bank (NRB), has selected the ACI Enterprise Payments Platform. This platform will facilitate the establishment and operation of the National Payment Switch (NPS), enabling interoperability of card-based transactions (NPS National Card Switch or NPS-NCS) and the rollout of the domestic card scheme for Nepal (NEPALPAY).

According to the Nepal Financial Inclusion Report 2023, the percentage of adults using formal financial services has surged from 61% in 2014 to 90% in 2022. Of these, 81% utilize banking services, and 9% opt for other formal financial services. This signifies an increasing adoption of financial instruments and a notable shift towards digital payments. 

Presently, domestic card transactions rely on international payment gateways. However, with the implementation of the card payment central infrastructure as part of NPS-NCS, banks and financial institutions in Nepal will have the capability to issue domestic NEPALPAY cards to customers. This move will enhance acceptance rates, enable data localization, and lower transaction charges.