Nepal Electronic Payment Systems Limited (NEPS) has deployed BPC Banking Technologies’ SmartVista suite in Nepal.
BPC’s solutions were selected to replace the legacy payment systems of every member bank and process member banks transactions.
The deployment aims to provide a single payments infrastructure delivering everything from switching, processing, ATM management, card issuing and acquiring through to point of sale management.
The initiative is expected to help NEPS’ eight core members to have true payments interoperability for the very first time across the nation, so Nepal residents and visitors can use their payment cards at any ATM or POS device. The SmartVista deployment also aims to cut time-to-market for new payment products and services in Nepal.
Sunrise Bank Limited, Janata Bank Nepal Limited, Machhapuchchhre Bank Limited, Citizens Bank International Limited, NIC Asia Bank Limited and Siddhartha Bank Limited, are already processing all card transactions through NEPS and remaining member banks will be migrated to the NEPS system in upcoming months.
“This initiative changes the game for payments throughout the country providing ultimate convenience for citizens and travelers. It will provide the foundation for Nepal to be well positioned for all future payments innovation,” said Anish Tamrakar, CEO NEPS.
“The NEPS initiative will allow all banks in Nepal to do business easier, with more transparency and also save the costs of running eight separate infrastructures that did not make sense for customers or the economy,” said Rajan Singh Bhandari, CEO Citizens Bank International.
“There is no looking back after choosing SmartVista, the project completed within record time of four and a half months just as we agreed,” said Tulasi Ram Gautam, CEO Machhapuchchhre Bank Limited. “The initiative will provide shared value for all members of NEPS both now and into the future”.