National Payment SwitchNPS

Before the NPS, many domestic card and QR transactions were routed through separate private switches or even international networks, which raised costs and limited interoperability. NRB therefore mandated NCHL to build a national switch.

The NPS has two main components:

• Retail Payment Switch (RPS): switching and settlement of non-card retail transactions, including account transfers among banks and wallets and the NEPALPAY QR scheme.
• National Card Switch (NCS): switching of domestic card transactions among issuers and acquirers, together with a domestic card scheme (NEPALPAY Card).

Domestic transactions are cleared within the country and settled in central bank money through RTGS, with a guarantee fund arrangement to manage settlement risk on card transactions. The National Payments Interface (NPI) provides open API access to the underlying systems.

Benefits include lower costs for domestic transactions, interoperability of any card at any ATM or POS and any QR across networks, retention of transaction data within the country and stronger oversight by NRB.

राष्ट्रिय भुक्तानी स्विच अघि धेरै स्वदेशी कार्ड र क्युआर कारोबार छुट्टाछुट्टै निजी स्विच वा अन्तर्राष्ट्रिय नेटवर्कमार्फत जान्थे, जसले लागत बढाउँथ्यो। त्यसैले नेपाल राष्ट्र बैंकले नेपाल क्लियरिङ हाउसलाई राष्ट्रिय स्विच निर्माण गर्न निर्देशन दियो।

• खुद्रा भुक्तानी स्विच (RPS): बैंक र वालेटबीच खाता रकमान्तर तथा NEPALPAY QR जस्ता गैरकार्ड कारोबार।
• राष्ट्रिय कार्ड स्विच (NCS): स्वदेशी कार्ड कारोबार स्विचिङ र स्वदेशी कार्ड स्किम (NEPALPAY Card)।

कारोबार देशभित्रै क्लियर भई RTGS मार्फत केन्द्रीय बैंकको रकममा फर्छ्यौट हुन्छ। यसले लागत घटाउने, अन्तरसञ्चालन बढाउने र कारोबार तथ्याङ्क देशभित्रै राख्ने काम गर्छ।