Nepal's Retail Payment Switch Crosses Rs. 1.2 Trillion in Monthly Transactions, Hits Rs. 9.3 Trillion in FY 2025/26

Nepal's digital payment ecosystem has achieved a major milestone, with the Retail Payment Switch (RPS) processing more than Rs. 1.2 trillion worth of transactions in Ashadh 2083. During FY 2025/26, the RPS handled real-time transactions totaling Rs. 9.3 trillion, surpassing the annual value of cheque transactions for the first time.

Operated by Nepal Clearing House Limited (NCHL) under the National Payment Switch (NPS) and regulated by Nepal Rastra Bank, the RPS has become the country's core interoperable payment infrastructure since its launch in November 2021.

It powers a wide range of services, including account-to-account transfers, NEPALPAY QR, mobile banking and wallet payments, online merchant payments, utility bill payments, Request-to-Pay services, NFC-based payments, and RTGS-integrated settlements.

The achievement highlights Nepal's rapid adoption of digital payments, growing public confidence in interoperable payment systems, and the country's progress toward building a modern digital financial infrastructure comparable to leading real-time payment systems such as India's UPI and Brazil's Pix.