Rastriya Banijya Bank has officially signed an agreement with Nepal Clearing House for National Payment Switch (NPS Phase 1) Rollout and Corporatepay service for its corporate customers on Mangsir 29, 2078 along with other commercial banks, development banks, and finance companies.
The agreement was signed by Deputy ED of the bank Mr. Devesh Prasad Lohani and CEO of NCHL Mr. Nilesh Man Singh Pradhan amid a program.
This will integrate multiple banks, digital payment vendors such as interbank payment system (IPS), ConnectIPS, quick response (QR) code, and other digital ecosystems into one system enabling them to transfer funds.
The first phase involves working on routing non-card transactions. All non-card transactions in the country that are done through mobile banking, e-banking, e-wallet, or QR code will be routed through the national payment switch in the first phase.