connectIPSNepal’s single real-time retail payment platform (web, mobile, API), operated by the bank-owned clearing house. It is the go-to rail for government payments and school fees.Nepal Clearing House Ltd (NCHL) · since 2018National electronic payments grew from Rs 34.42 trillion (FY2020/21) to Rs 98.43 trillion (FY2024/25), per Nepal Rastra Bank
Global registry · Asia-Pacific · South Asia
Nepal Payment systems
6 systems listed.
This country doesn’t have a written market analysis yet: e-commerce shares, regulator, and key players are still to be documented. The systems below, however, are verified.
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Payments in Oceania and CanadaPayments in Central AsiaPayments in South Asia outside IndiaPayments in Southeast AsiaPayments in Japan and KoreaPayments in Malaysia and SingaporeAccepting payments in Australia and New ZealandAccepting payments in Indonesia and ThailandAccepting payments in Japan and South KoreaAccepting payments in Southeast AsiaPayments in Asia: super-apps, public rails, and cross-border QROpening a new market: the payments playbook
Instant payments
Clearing and settlement
NCHL-IPS / NCHL-ECCNepal’s clearing backbone: check truncation and deferred credit transfers. Every bank integration in Nepal goes through NCHL.Nepal Clearing House Ltd · since 2012
Wallets
eSewaNepal's leading wallet, licensed as a PSP by the central bank in 2017 when the licensing framework was introduced, although the service is older. The Nepal Rastra Bank register lists it in Pulchowk (Lalitpur), at the same address as the operator of the Fonepay network. The proximity between the wallet and the QR network is a competition issue to watch, even though the register shows no ownership link.Esewa Ltd. (payment service provider (PSP) licensed by Nepal Rastra Bank)paid-up capital of NPR 500.0 million, second among Nepal's payment service providers (Nepal Rastra Bank, list of PSOs and PSPs as of 2083/03/32 in Nepal's calendar, or July 2026)
KhaltieSewa's main competitor, licensed as a PSP on the same day in 2017 and the largest in the country by paid-up capital. A key correction for any due diligence: the legal name in the central bank register is IME Khalti Ltd., which ties the wallet to the IME group. The name “Khalti Digital Wallet Pvt Ltd,” often seen, does not match the licensed entity.IME Khalti Ltd. (payment service provider (PSP) licensed by Nepal Rastra Bank) · since 2017paid-up capital of NPR 545.45 million, first among Nepal's payment service providers (Nepal Rastra Bank, list of PSOs and PSPs as of 2083/03/32 in Nepal's calendar, or July 2026)
Interoperable QR
FonepayA private QR network that became the de facto national standard, and the first place outside India to accept India’s UPI, through NPCI International. A rare case of dominant QR infrastructure not owned by the central bank.Fonepay Payment Service Ltd (F1Soft group) · since 2020More than 9 out of 10 QR payments in Nepal (Nepal Rastra Bank / press); UPI corridor: 134,701 transactions worth Rs 321 million in the five months after February 2024
Acquiring and processing
National Payment Switch (NPS) / Retail Payment Switch (RPS)National infrastructure for routing and settling retail payments. The live RPS covers the non-card side: alias-based payments (NEPALPAY Instant), request to pay, interoperable QR, a biller gateway, wallet interoperability, and settlement for payment system operators (PSOs), all exposed to members through an open API. A correction to most available notes: the card side, meaning the National Card Switch and the domestic card scheme often called “NEPALPAY Card,” is NOT live. The operator still describes it as under implementation.Nepal Clearing House Ltd. (payment system operator licensed by Nepal Rastra Bank)