Siddhartha Bank signs Agreement with Nepal Clearing House for NPS Phase 1 Rollout – |


Siddhartha Bank, together with other commercial banks, development banks, and finance firms, has signed an agreement with Clearing House for the National Payment Switch (NPS Phase 1) Rollout and the Corporatepay service on 16, 2078, according to the bank’s website.

During a program, the agreement was signed by Mr. Suresh Raj Maharjan, head of the bank’s Payment Solutions and Business Support department, and Mr. Nilesh Man Singh Pradhan, CEO of the National Credit of India.

Multi-bank integration as well as integration of digital payment suppliers such as the interbank payment system (IPS), ConnectIPS, quick response (QR) code, and other digital will be accomplished this system, allowing them to transfer payments.

The first step entails completing work on non-card transactions routing and processing. As part of the first phase of the implementation, all non-card transactions in the country that completed by mobile banking, e-banking, e-wallet, or QR code will be routed the national payment switch.

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