Kathmandu, June 4: Nepal Clearing House Limited (NCHL) has signed an official agreement with UKaid Sakchyam – Access to Finance Programme (Sakchyam) to promote connect IPS e-Payments, establish National Payments Interface (NPI) and extend Settlement Guarantee Fund (SGF).
Neelesh Man Singh Pradhan, Chief Executive Officer of NCHL and Nirmal Dahal, Team Leader of Sakchyam inked the deal on Monday (June 3) amidst a program held in the capital.
The partnership aims to extend payment infrastructure for an integrated mobile and web-based payment services in such a way that it will support in establishing an efficient and reliable digital payment ecosystem in Nepal. The three major ventures of this project are promotion, awareness and training of connectIPS e-Payment system, development and rollout of National Payments Interface (NPI) and extension of Settlement Guarantee Fund (SGF).
The above-mentioned ventures will cater to a variety of beneficiary groups, while the collective beneficiaries of the project include bank customers throughout Nepal, banks & financial institutions (BFIs), government/semi-government organizations, large corporates, SMEs, PSP/PSOs, etc.
The project will also extend support to the Government’s policy towards creating a digital economy with increased P2P, P2G, G2P, C2B and B2C payments on a countrywide scale.
Sakchyam Access to Finance is an UKaid-funded programme as a part of an agreement between the Governments of Nepal and the UK. It is being implemented by Louis Berger for DFID Nepal, in partnership with local and international institutions.
NCHL is promoted by Nepal Rastra Bank and banks & financial institutions to establish multiple national payments infrastructures. It has been operating NCHL-ECC, NCHL-IPS and connectIPS e-Payment systems in colloboration with the BFIs and few non-bank institutions.
