Thamel Remit Pvt Ltd, a recent member of Nepal Clearing House Limited (NCHL) has started using National Payment Switch (NPS) as the domestic rail for instant remittances. This membership enables remittance senders from the USA to push transactions to Nepal in a few seconds. Launched in 2013, Thamel Remit is one of the pioneer remittance companies in Nepal. Bal Krishna Joshi, co-founder of Thamel Remit says, “This integration makes Thamel Remit the first digital money transfer company enabling instant settlement in non-card based, bank to bank transactions from the USA to Nepal corridor.” This is the first of its kind whereby the National Automated Clearing House Association (NACHA) of the USA has been indirectly integrated with Nepal Payment Interface (NPI) via a remittance provider (Thamel Remit). All these transactions are processed through the underlying systems of NCHL-IPS and Retail Payment Switch (connectIPS). 

NPI, as part of the National Payment Switch (NPS), is a consolidated interface for interconnection and operated by NCHL with access to real-time (RPS/ connectIPS) and non-real time batch (NCHL-IPS) payment systems. It has over 59 BFIs and 73 non-bank institutions. There are currently 13 remittance companies that are using NCHL’s payment systems as domestic rail for local disbursements through their respective settlement banks.