Nepal Clearing House

What Nepal Clearing House does

Nepal Clearing House Limited (NCHL) is a public limited company established on 23 December 2008 under the leadership of Nepal Rastra Bank (NRB), Nepal's central bank, and operates as the country's primary payment system operator (PSO). It builds and runs the national payments, clearing, and settlement infrastructure, providing systemically important rails to Banks and Financial Institutions (BFIs) that participate as direct members and to non-bank institutions enrolled as indirect/technical members. NCHL serves banks, corporates, government agencies, merchants, and, through its members, retail and cross-border remittance users. In FY 2081/82 it processed over 211.22 million transactions worth more than NPR 18.60 trillion across 54 BFI members and 100+ non-BFI members.

The company operates a portfolio of interconnected payment systems rather than a single product. Foundational clearing and settlement systems (NCHL-ECC for image-based MICR cheque clearing and NCHL-IPS for interbank direct-credit/direct-debit transfers) are overlaid by faster-payment solutions such as connectIPS (real-time retail payments via web, mobile app, gateway, and open APIs), CORPORATEPAY (multi-bank corporate payments), and connectRTGS (integration to NRB's RTGS). The National Payment Switch (NPS) provides core routing and settlement, comprising RPS for non-card retail transactions and the National Card Switch (NCS) for card transactions, alongside NEPALPAY QR, NEPALPAY Card (a domestic EMV scheme), EFT Card Services, and the National Payments Interface (NPI) Open API platform. Cross-border links connect Nepal to India (UPI-NPI), Sri Lanka (LankaQR), and international wallets via Alipay+. The platform is PCI DSS and ISO 27001 certified.

NCHL monetizes primarily through per-transaction processing fees (e.g., connectIPS fund transfers at Rs. 2-8, NCHL-IPS at Rs. 2-10 by amount slab, and nominal government payment fees of Rs. 2-5), BFI membership fees, QR merchant services across 1.1+ million merchants, and card issuance/acquiring fees under EFT Card Services. Its go-to-market is a B2B2C channel model: NCHL provides infrastructure to member BFIs, which distribute payment services to end customers. Ownership is diversified across NRB, commercial banks, development banks, and finance companies, with no disclosed venture capital or private equity investment.

Name

Nepal Clearing House

Legal name

Nepal Clearing House Limited

Website

https://nchl.com.np

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Nepal Clearing House Limited is Nepal's central-bank-mandated payment system operator, building national clearing and settlement infrastructure—cheque clearing, interbank transfers, connectIPS, NEPALPAY QR, and card switching—for banks, financial institutions, corporates, government, and merchants across Nepal.

Ownership category

akta.pro rank

Product category

Payment Infrastructure & Processing

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

ACH Operator & Clearinghouse Services (FSAMAGAA)

akta.pro secondary industries

ACH & Batch Payments Clearing (FSABAJAH), Interbank Clearing (Domestic Clearing Systems) (FSABAJAB), Card Clearing & Settlement (Interchange, Network Settlement) (FSABAJAJ), Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), Corporate Cash Management & Treasury ACH (FSAMAGAG)

Keywords

• Payment system operator
• Clearing and settlement
• Interbank payments
• National payment switch
• Digital payment infrastructure

Headquarters

HQ city

Kathmandu

HQ country

Nepal

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Transaction Processing Fees: NCHL charges transaction fees for processing payments through its various systems including connectIPS fund transfers (Rs. 2-8 per transaction), NCHL-IPS transactions (Rs. 2-10 based on amount), and CORPORATEPAY payments
2. BFI Membership Fees: Banks and Financial Institutions pay fees to participate as members in NCHL systems. The company has 54 BFI members and 100+ Non-BFI members
3. QR Merchant Services: Fees from merchant enrollment and QR payment processing through NEPALPAY QR network across 1.1+ million merchants
4. EFT Card Services: Card issuance and acquiring services, terminal management, and processing fees for debit, credit and prepaid cards

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels7 records

Core offering

Nepal Clearing House Limited operates as Nepal's national payment system operator, providing clearing, settlement, and payment processing infrastructure to banks and financial institutions. Its product portfolio spans electronic cheque clearing (NCHL-ECC), interbank payments (NCHL-IPS), real-time retail payments (connectIPS), corporate payments (CORPORATEPAY), RTGS integration (connectRTGS), a National Payment Switch with retail and card switching, an Open API platform (NPI), a national QR scheme (NEPALPAY QR), and EFT card services. Services are delivered to 54 BFI members and 100+ non-BFI members, processing over NPR 18.60 trillion in annual transaction value.

Product overview

Nepal Clearing House Ltd. (NCHL) operates as a multi-system payment infrastructure operator offering a comprehensive portfolio of 14 interconnected payment systems and services. The core platform consists of foundational clearing and settlement systems (NCHL-ECC for cheque clearing and NCHL-IPS for interbank payments) overlaid by faster payment solutions (connectIPS, CORPORATEPAY, connectRTGS) that enable real-time transactions. The National Payment Switch (NPS) serves as the core routing infrastructure with RPS for non-card payments and NCS (under implementation) for card transactions. NPI provides unified Open API access to underlying systems. Consumer-facing products include NEPALPAY QR (national QR scheme), NEPALPAY Card (domestic EMV card), and EFT Card Services for card processing. Cross-border capabilities connect Nepal to India (UPI-NPI linkage), Sri Lanka (LankaQR), and global markets (Alipay+). The system processes over NPR 18.60 trillion in transaction value and 211+ million transactions across 54 BFI members and 100+ non-BFI members.

Differentiator

Problem solved

Functional benefit

Brands

• NCHL-ECC: Electronic Cheque Clearing - image-based MICR cheque processing and settlement solution
• NCHL-IPS
• Retail Payment Switch (RPS)
• connectIPS
• CORPORATEPAY
• connectRTGS
• National Payment Interface (NPI)
• NEPALPAY QR
• EFT Card Services
• National Archive System
• National Payment Switch (NPS)
• NEPALPAY Card
• India UPI (NPIx)
• LankaQR
• Alipay+ Mobile Payments Partner

Products and services

• NCHL-ECC (Electronic Cheque Clearing) Image-based MICR cheque processing and settlement solution for member banks and financial institutions. Converts paper cheques into electronic images for faster clearing across Regular, Express, and High Value sessions, with same-day (T+0) settlement for transactions presented before cut-off.
• NCHL-IPS (Interbank Payment System) Interbank fund transfer system supporting bulk or one-to-one account-to-account Direct Credit and Direct Debit transactions for member BFIs. Supports 160+ transaction purposes including salary, pension, treasury, and government payments.
• connectIPS Faster payment system providing real-time retail payments via web portal, mobile apps, payment gateway, and open APIs. Enables fund transfers, biller payments, government revenue payments, and e-commerce transactions 24x7 for customers of member BFIs.
• CORPORATEPAY Business payment platform enabling corporate and business customers of member BFIs to initiate digital payments from any connected bank account. Supports multi-bank, multi-account operations through both real-time (connectIPS) and non-real-time (NCHL-IPS) rails.
• connectRTGS Integration gateway connecting member banks and financial institutions to the Real Time Gross Settlement system hosted by Nepal Rastra Bank for high-value and urgent transactions with immediate fund realization.
• NPI (National Payments Interface) Consolidated Open API platform providing access to multiple NCHL payment systems including connectIPS (real-time) and NCHL-IPS (non-real-time). Enables automation of payouts, bank account validations, Government of Nepal revenue payments, and PSP/wallet integrations.
• RPS (Retail Payment Switch) Real-time retail payment switch ensuring interoperability of card and non-card-based payments. Includes NEPALPAY Instant (VPA-based transfers), NEPALPAY QR (national QR scheme), NEPALPAY Request (pull transactions), and PSP interoperability.
• NEPALPAY QR National QR payment scheme implemented per NepalQR standards. Supports static QR, dynamic QR, and QR gateway for merchant acquisition and payment processing with interoperability at merchant and network levels. Available across 56+ issuing banks and wallets at 1.1+ million merchants.
• EFT Card Services

Quantifiable outcome

• 211.22+ million transactions processed in FY 2081/82
• +4 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration17 records

Feature7 records

Partnerships

Nine partnerships are on record, tiered core and major.

• NPCI International Payments Limited (NIPL)coreTechnology or Integration · 9 June 2026Strategic cross-border payment linkage between India's UPI and Nepal's NPI enabling real-time P2P fund transfers between Nepal and India. This partnership enables instant, secure, and affordable person-to-person (P2P) fund transfers using Virtual Payment Addresses (VPAs), representing a major advancement in regional financial integration aligned with G20 goals for accessible cross-border payments.
• LankaPay (Sri Lanka)coreTechnology or Integration · 12 May 2026Cross-border QR payment connectivity enabling Nepali travelers to make seamless digital payments at LankaQR merchants across Sri Lanka. Over 4 lakh merchants in Sri Lanka accept payments via connectIPS and enabled mobile banking apps. Laxmi Sunrise Bank is the first issuer bank for this cross-border service.
• Alipay+ (Ant International)coreTechnology or IntegrationAlipay+ mobile payment partners enable international tourists to scan and pay NEPALPAY QR at over 1.1 million merchant locations in Nepal. Supports 17+ mobile wallets from 14+ countries including Alipay (China), GCash (Philippines), KakaoPay (South Korea), TrueMoney (Thailand), and more. Alipay+ aggregates over 30 issuing instruments and 300+ acquiring networks with access to 90 million global merchants across 66 markets.
• Discover Global NetworkcoreTechnology or IntegrationPartnership for global acceptance of NEPALPAY National Card Scheme. Enables NEPALPAY cards to be accepted globally through Discover Network's worldwide infrastructure, expanding acceptance beyond Nepal to international merchants.
• Nepal Rastra Bank (NRB)coreStrategic or Co-development PartnerNepal's central bank that established and provides leadership/guidance to NCHL. NRB is an equity participant in NCHL and serves as the regulatory authority and settlement bank. NRB hosts the central RTGS system and provides unified directives governing NCHL operations.
• NMB BankcoreTechnology or IntegrationLaunched real-time India-Nepal cross-border remittance service in partnership with NCHL. NMB Bank operates 198 branches, 176 ATMs, and nine extension counters across Nepal. Enables customers to transfer funds instantly using Virtual Payment Address technology.
• VisacoreTechnology or IntegrationVisa is the card network for NCHL's EFT Card Services. NCHL provides card issuance for VISA cards and acquiring for major international networks including VISA, Mastercard, and Union Pay. Visa Direct enables real-time fund receipts from 100+ countries.
• Various Banks and Financial InstitutionscoreChannel Partner/ Reseller/ Distributor54 commercial banks, development banks, and finance companies participate as members in NCHL payment systems. These BFI members include Agricultural Development Bank, Citizens Bank, Everest Bank, Global IME Bank, Himalayan Bank, Kumari Bank, Laxmi Sunrise Bank, Machhapuchchhre Bank, Nabil Bank, Nepal Bank, NIC Asia, NMB Bank, Prabhu Bank, Prime Commercial Bank, Siddhartha Bank, Standard Chartered, and numerous others.
• Payment Service Providers (PSPs) and Digital WalletsmajorTechnology or IntegrationVarious mobile wallets and PSPs integrated with NEPALPAY QR and connectIPS for fund transfers. Supported wallets include CellPay, Citypay Wallet, dPaisa, Hamro Pay, Khalti by IME, MORU, MyPay, N-Cash, iCash, Prabhu Pay. These PSPs enable interoperability and expand digital payment reach.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• National Payments Corporation of India (NPCI): India's umbrella payment infrastructure operator running UPI, IMPS, RuPay, AePS, and NACH — the closest analog to NCHL's role in Nepal, and NCHL's live cross-border partner for UPI-NPI linkage.
• LankaPay (Sri Lanka): Sri Lanka's national payment network operating LankaQR and common ATM switch — directly comparable as a smaller South Asian clearinghouse with cross-border QR ambitions, and NCHL's partner for the Nepal-Sri Lanka corridor.
• PromptPay / National Digital ID (Thailand): Thailand's national real-time payment system operated under BOT oversight, comparable in mandate and structure to NCHL's connectIPS, with similar cross-border expansion ambitions across ASEAN.
• PayNet (Malaysia): Malaysia's national payment network and Financial Market Infrastructure operator running DuitNow, FPX, and shared ATM infrastructure — comparable as a single-country clearinghouse with a strong real-time retail payments mandate.
• BancNet (Philippines): Philippines' national ATM and electronic payments network providing shared switch, InstaPay, and PESONet services — directly comparable as a multi-rail domestic clearinghouse serving a similar emerging-market banking base.

Broad incumbents

• Visa Inc. Global card network whose Visa Direct service already integrates with NEPALPAY; relevant as both a partner and a competitive incumbent in cross-border payment flows that could bypass NCHL rails.
• Ant International (Alipay+): Cross-border mobile payment network that NCHL has integrated with; comparable as a global QR/wallet aggregator that competes for the same cross-border merchant payment economics.
• Mastercard: Global card network acquiring for NCHL's EFT Card Services; represents a broad incumbent providing comparable cross-border and merchant payment capabilities from a global platform.
• Nacha (US ACH operator): Governing body for the US ACH Network and similar clearinghouse-style operator; comparable in role (administering ACH rails) and stakeholder structure (bank-owned, regulator-aligned) though vastly larger in scale.

Others

• Discover Global Network: NEPALPAY Card's global acceptance partner; comparable as an enabling network that extends the reach of NCHL's domestic card scheme to international merchants without owning end-user relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/nchlofficial
• Xx.com/nchlofficial
• LinkedInlinkedin.com/company/nepal-clearing-house-limited-nchl-

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nepal Clearing House