NCHL Expands EFT Card Switch with 7 New Members, Total Reaches 17
Nepal Clearing House Limited (NCHL) has added two commercial banks and five finance companies to its EFT Card Switch, bringing total membership to 17. The expansion follows an interaction programme with 22 member institutions to discuss card payment operations, security, and service expansion. In FY 2082/83, the platform processed approximately 32 million transactions worth Rs 255 billion, accounting for around 25% of Nepal's card transaction market.
Nepal Clearing House Limited (NCHL) has expanded its EFT Card Switch by adding two commercial banks and five finance companies, bringing the total number of member banks and financial institutions to 17.
The expansion follows an interaction programme held with representatives of 22 member banks and financial institutions, where participants discussed card payment operations, security, service expansion, and new initiatives. Attendees also shared feedback on customer needs and technology developments.
EFT Card Services is NCHL's central card-switching platform, handling card transaction processing, card issuance, and transaction acquisition across both national and international card networks.
In FY 2082/83, the platform processed approximately 32 million transactions worth Rs 255 billion, with 3.44 million cards in circulation. According to NCHL, EFT accounted for around 25% of Nepal's card transaction market during the period.
NCHL also offers e-commerce payment gateway and 3D Secure services through the platform. Its e-commerce gateway currently serves more than 115 merchants, with six member institutions providing the service.