Global IME Bank Ltd and Nepal Clearing House Ltd have signed a memorandum of understanding (MoU) to initiate Nepal Pay QR facility for the launch of the first phase of National Payment Switch.

As per a press statement, Ratna Raj Bajracharya, chief executive officer of Global IME Bank, and Nilesh Man Singh Pradhan, chief executive officer of Nepal Clearing House Ltd, signed the agreement at a function held at the bank's corporate office.

As per the agreement, Global IME Bank has successfully integrated biller gateway under first phase of National Payment Switch enabling government and semi-government bill payment, credit card bill payment, insurance fee payment, share transaction payment through its mobile banking app Global Smart Plus.

In addition, the bank will soon provide NepalPay QR, NepalPay Instant, NepalPay Request and other services under National Payment Switch.

A version of this article appears in the print on May 13, 2022, of The Himalayan Times.