Kathmandu- Nepal Clearing House Ltd., a payment system operator licensed by Nepal Rastra Bank providing multiple payment systems in Nepal and Mastercard, a global technology company operating in the payments industry, have entered into a Memorandum of Understanding (MoU) for Quick Response (QR) payments using Mastercard cards for international tourists visiting Nepal.

Both parties shall explore a unique payment use-case with the objective of providing a seamless and convenient payment experience for international Mastercard cardholders to “Pay like a Local” atNCHL’s NEPALPAY QR and Interoperable QR merchants in Nepal.

By offering an additional platform for international tourists to make digital payments using their

Mastercard cards at local QR merchants, the collaboration will enhance digital payment adoption byconsumers and merchants across the country. NEPALPAY QR and Interoperable QR have close toone million QR merchants in Nepal, whereas Mastercard has over 3.1 billion cards issued worldwide.

This engagement between NCHL and Mastercard is expected to majorly support Nepal’s tourismsector for inbound international transactions.About Nepal Clearing House

Nepal Clearing House Ltd. (NCHL) is a public limited company promoted by Nepal Rastra Bank andBanks & Financial Institutions of Nepal and has the objective to implement and operate multiplenational payment systems. NCHL has been providing digital payment infrastructure services includingelectronic cheque clearing (ECC), interbank payment system (IPS), National Payment Switch (NPS),retail payment switch (RPS), National Card Switch (NCS), connectRTGS, National Payments

Interface (Open API platform), connectIPS (faster payment system& gateway), Card processingservices and CORPORATEPAY (B2B payment channel).About NEPALPAY QR

NEPALPAY QR is the implementing infrastructure of NepalQR standard as part of the National

Payment Switch (NPS) that operates as independent QR scheme and also facilitates interoperabilityof QR at issuing, merchant and network level. The network has access to close to 1,000,000merchants through NEPALPAY QR and its interoperable QR scheme with scan & pay available fromover 42 mobile banking apps, 11 wallet apps and connectIPS.About MastercardMastercard powers economies and empowers people in 200+ countries and territories worldwide.Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart andaccessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatestpotential.