BPC Banking Technologies, a world leading provider of payment solutions, announces the launch of its end-to-end SmartVista suite in Nepal Electronic Payment Systems Limited (NEPS).
BPC’s solutions were selected to replace the legacy payment systems of every member bank, as well as to process member banks transactions, deliver a single payments infrastructure providing everything from switching, processing, ATM management, card issuing and acquiring through to point of sale management.
The initiative provides the foundation for all of NEPS eight core members to have true payments interoperability for the very first time across the nation, empowering the citizens of Nepal and the many visitors to use their cards in any ATM and at any POS device. SmartVista also stands as a futureproof platform for further payments innovation within Nepal with time to market for new products cut and flexibility enhanced.
As of today, 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.
Anish Tamrakar, CEO NEPS says, that “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.”
Rajan Singh Bhandari, CEO Citizens Bank International notes “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.”
Tulasi Ram Gautam, CEO Machhapuchchhre Bank Limited comments “There is no looking back after choosing SmartVista, the project completed within record time of four and a half months just as we agreed. The initiative will provide shared value for all members of NEPS both now and into the future”.
Rajan S. Narayan, Managing Director, BPC Banking Technologies Asia Pacific comments “I am delighted to have implemented the project with all those complex and wide ranging requirements in such a short space of time, to integrate into so many banks all at once is not so easy. This project was the result of the forward thinking nature of NEPS and the member banks and I am happy to congratulate everyone who took part in this process. Our partnership will continue to grow and we are looking forward to meeting the future dynamic business needs of Nepal market.”