Kathmandu, Feb. 8 -- Nepal Clearing House Limited (NCHL) has roped in global payments software firm ACI Worldwide to power its new domestic real-time payments system.

The first phase of the national payment switch, approved by Nepal's central bank, came into operation in November 2021 by establishing a retail payment switch with the NCHL.

NCHL is now introducing the second phase.

In the second phase, after the infrastructure of the card payment switch system is built, banking and financial institutions will be able to provide their customers NEPALPAY cards instead of Visa, Master and Union pay cards.

This will keep the customers' data within the country and also help in reducing service charges of the payment cards.

The national paym...