Banking News – Jyoti Bikash Bank has signed an agreement with Nepal Clearing House Limited (NCHL) to activate NepalPay Card payment services through the EFT Card Switch.

The agreement was signed during a formal ceremony by Kapil Dhakal, Chief Executive Officer of Jyoti Bikash Bank, and Nilesh Man Singh Pradhan, Chief Executive Officer of NCHL.

With NCHL’s EFT Switch already integrated with the National Card Switch, the partnership will enable Jyoti Bikash Bank to issue NepalPay Cards to its customers. The bank will also be able to acquire and process transactions made through Discover Network international cards and RuPay cards alongside NepalPay Cards.

Following the recent commercial rollout of NepalPay, NCHL has expanded the card’s global usability through its partnership with Discover Network. NepalPay Cards issued by banks, financial institutions, payment service providers, and payment system operators can now be used at ATMs and POS terminals both within Nepal and internationally.

Currently, 11 member banks and financial institutions process various international card schemes through NCHL’s EFT Services. With the integration of the EFT Switch and the National Payment Switch, these institutions can now also process NepalPay Card transactions.

NCHL stated that other member banks and financial institutions are also preparing to issue and acquire NepalPay Cards. So far, more than 36 banks and financial institutions have joined the NepalPay network at various stages of rollout. Eight institutions have already started issuing NepalPay Cards, while 11 institutions have begun acquiring NepalPay Card transactions.

The latest partnership is expected to strengthen Nepal’s domestic card payment ecosystem while expanding secure and interoperable digital payment services for customers.