Everest Bank, Nepal Clearing House forge alliance to facilitate cross-border digital payments

KATHMANDU: Everest Bank and Nepal Clearing House have formalised a significant partnership with the signing of a memorandum of understanding (MoU) on Thursday. This collaborative effort aims to streamline digital transactions for a diverse range of individuals, including business professionals, students, and tourists travelling between Nepal and India.

The MoU signing ceremony, held in Kathmandu, was attended by Sudesh Khaling, CEO of Everest Bank, and Neelesh Man Singh Pradhan, CEO of Nepal Clearing House, who exchanged the MoU on behalf of their respective organisations.

Leveraging its expertise in Indo-Nepal remittance services, Everest Bank anticipates that this strategic partnership will further enhance cross-border payment solutions. Through the bank's mobile banking application, customers will be able to enjoy seamless and instantaneous transfer of funds between Nepal and India, marking a significant advancement in financial connectivity between the two nations.

This initiative holds particular promise for numerous stakeholders, including thousands of students, hundreds of thousands of tourists, pilgrims, and individuals seeking medical treatment in India. By facilitating swift and efficient transactions, Everest Bank aims to cater to the diverse needs of its clientele, ensuring a hassle-free financial experience.

Everest Bank has already initiated the acceptance of QR payments from Indian nationals, enabling them to utilise popular platforms such as PhonePe, BHIM app, or Google Pay app while travelling in Nepal. This proactive approach underscores the bank's commitment to embracing innovative solutions and fostering greater financial inclusivity across borders.

The collaboration between Everest Bank and Nepal Clearing House represents a pivotal step towards enhancing the digital payment landscape, poised to empower individuals and businesses alike with enhanced convenience and accessibility.

Everest Bank, a trusted name among customers since its establishment, boasts over 1.4 million satisfied clients. With a widespread network comprising 128 branches, three extension counters, and seven regional offices nationwide, coupled with 164 ATMs, and cutting-edge mobile and internet banking services, Everest Bank ensures seamless banking experiences. Additionally, it facilitates banking transactions through SMS services. Moreover, the bank operates 32 collection centres for revenue collection on behalf of the Government of Nepal, further demonstrating its commitment to comprehensive financial solutions.