When Nepal’s banking industry desperately needed transformation from paper-based transactions to digital payments, one engineer stepped forward to build the infrastructure that would change how millions of Nepalis handle money. Neelesh Man Singh Pradhan is the founding CEO of Nepal Clearing House Limited (NCHL), the architect of Nepal’s national payment systems, which collectively process transactions worth over Rs 500 billion monthly.
From launching as just the second employee of NCHL in March 2011 to being recognized among the “100 People to Watch 2025” by Business 360 Nepal, Pradhan’s work has fundamentally reshaped Nepal’s financial landscape. His practical vision of building a “less-cash economy” has made digital payments accessible to everyone from village shopkeepers in Sindhupalchok to government ministries in Singha Durbar.
Key Facts at a Glance
| Attribute | Value |
|---|---|
| Full Name | Neelesh Man Singh Pradhan |
| Born | Not publicly available |
| Nationality | Nepali |
| Birthplace | Not publicly available |
| Occupation | Chief Executive Officer |
| Current Organization | Nepal Clearing House Limited (NCHL) |
| Active Years | 1999 – Present (CEO of NCHL since March 2011) |
| Notable For | Founding CEO of NCHL, developing connectIPS, National Payments Interface Nepal, fintech leadership |
| Education | Engineering (Kathmandu University), MBA (Indian Institute of Technology) |
| Certifications | CISA, PMP |
| Recognition | 100 People to Watch 2025 (Business 360 Nepal) |
| Expertise | Digital payments, fintech, payment systems, financial inclusion, banking technology |
| Current Focus | Cross-border payment initiatives, NEPALPAY QR expansion |
Early Foundation and Educational Excellence
Neelesh Man Singh Pradhan holds a BE in Mechanical Engineering from Kathmandu University and an MBA in IT and Operations from the Indian Institute of Technology, Roorkee, where he achieved rank holder status in both programs. His educational foundation combined technical expertise with business acumen, preparing him for the complex challenges of building financial technology infrastructure in Nepal’s developing economy.
His career began as a lecturer at Kathmandu University, where he shared his technical knowledge with the next generation of Nepali engineers. This early role in academia would later prove valuable as he focused on building systems that needed widespread adoption and understanding across Nepal’s diverse banking sector.
The combination of his engineering background and teaching experience gave Pradhan a unique perspective on technology implementation. He understood both the technical complexities of payment systems and the human factors necessary for successful adoption across Nepal’s varied economic landscape.
International Expertise and Global Exposure
Before transforming Nepal’s payment landscape, Pradhan gained crucial international experience working across multiple countries and jurisdictions. He worked with Tata Consultancy Services in India and the Netherlands, focusing on investment banking products and financial technology solutions. This exposure to global fintech practices provided him insights into how modern payment systems operate in developed markets.
His role as Assistant Vice President of IT at TAIB Bank in Bahrain was particularly significant for his later work in Nepal. Managing large-scale banking application implementations and core banking systems in an international environment provided him with the technical and managerial skills needed to build Nepal’s national payment infrastructure from scratch.
These 11 years of international exposure across India, Netherlands, and Bahrain gave Pradhan a comprehensive understanding of how different economies approach digital transformation. This global perspective would prove essential when designing payment systems suitable for Nepal’s unique economic and cultural context.
The NCHL Foundation: Building Nepal’s Digital Payment Infrastructure
In March 2011, Pradhan joined Nepal Clearing House Limited as the second employee, marking the beginning of a transformation that would eventually touch every digital transaction in Nepal. NCHL was established on December 23, 2008, under the leadership of Nepal Rastra Bank with equity participation from commercial banks, development banks, and finance companies.
The challenge facing Pradhan was enormous. Nepal’s payment system relied heavily on manual processes, paper cheques, and cash transactions. Building a digital infrastructure required not just technical solutions but also convincing dozens of banks and financial institutions to collaborate on shared systems.
“The most challenging part was engaging with and obtaining buy-ins from almost all stakeholders of the banking industry,” Pradhan explained in a Business 360 interview. The participative approach became NCHL’s defining culture, ensuring every bank and financial institution had meaningful input from project initiation to operational rollout.
This collaborative foundation was crucial for NCHL’s success. Unlike many technology implementations that face resistance from established institutions, NCHL’s inclusive approach created ownership among all participants, leading to faster adoption and stronger system integration across Nepal’s banking sector.
Revolutionary Payment Systems: Transforming Nepal’s Financial Ecosystem
Electronic Cheque Clearing (NCHL-ECC): The Digital Foundation
NCHL’s first major breakthrough was the Electronic Cheque Clearing system, which converted paper cheques into digital images for processing. This innovation eliminated the physical movement of cheques between banks, dramatically reducing processing time from days to hours and cutting operational costs significantly.
The system became the foundation for larger digital payment initiatives, proving that Nepal’s banks could successfully collaborate on shared infrastructure. More importantly, it demonstrated to skeptical stakeholders that digital payment systems could work reliably in Nepal’s banking environment.
Interbank Payment System (NCHL-IPS): Enabling Bulk Transactions
NCHL-IPS enabled direct credit and direct debit transactions between any participating banks, supporting everything from salary payments to bulk transfers. This system became crucial for businesses and government entities managing large-scale payments, replacing inefficient manual processes with automated, secure transactions.
The system’s success in handling high-value transactions built confidence among Nepal’s financial institutions, paving the way for more ambitious retail payment initiatives that would directly serve individual consumers.
connectIPS: Nepal’s Digital Payment Game Changer
Launched officially in October 2018, connectIPS became Nepal’s unified platform for real-time retail payments. Finance Minister Dr. Yuba Raj Khatiwada unveiled the system at Hotel Soaltee Crowne Plaza, recognizing its potential to transform Nepal’s economy fundamentally.
connectIPS allows users to link multiple bank accounts under one platform, facilitating instant fund transfers, bill payments, and government revenue collection. The system supports citizen-to-government (C2G), customer-to-business (C2B), and peer-to-peer (P2P) transactions directly from bank accounts, eliminating the need for cash in most daily transactions.
Collectively, the Retail Payment Switch, which includes transactions via connectIPS, handles close to Rs 500 billion in monthly transactions, signaling a major shift in Nepal’s economy. The platform has enrolled 44 banks and financial institutions, with expansion continuing across Nepal’s banking sector from urban centers to rural communities.
The system’s success represents more than technological achievement. It demonstrates how thoughtful design and inclusive implementation can drive widespread behavior change, moving an entire nation toward digital financial inclusion.
National Payments Interface Nepal: Creating True Interoperability
The National Payments Interface represents Pradhan’s vision of an open API platform that consolidates multiple payment systems hosted by NCHL and other institutions. NPI enables authentic interoperability between different payment channels, from mobile banking apps to e-commerce websites, creating a unified digital ecosystem.
This open architecture approach allows financial institutions and fintech companies to build innovative services on top of NCHL’s infrastructure, fostering innovation while maintaining security and reliability standards. The result is a thriving fintech ecosystem that serves diverse user needs across Nepal.
Comprehensive Payment Infrastructure: Supporting All Transaction Types
NCHL’s comprehensive payment ecosystem under Pradhan’s leadership includes several specialized systems. CORPORATEPAY serves as a business payments platform for corporate clients, enabling companies to process real-time payments through connectIPS and non-real-time bulk payments through NCHL-IPS with multi-user controls required for business transactions.
connectRTGS facilitates high-value and urgent transactions between financial institutions, providing immediate realization of funds and minimizing settlement risk for other payment systems. This system integrates with Nepal Rastra Bank’s Real-Time Gross Settlement system, enabling banks to process critical transactions efficiently.
The National Payment Switch (NPS) forms the core infrastructure for routing and settlement of retail transactions, ensuring interoperability of both card and non-card-based payments within Nepal. This infrastructure includes the Retail Payment Switch (RPS) for handling retail transactions and the National Card Switch (NCS) for card-based transactions, creating a unified ecosystem that supports all payment types.
Cross-Border Innovation: Connecting Nepal to the Global Economy
In November 2024, NCHL achieved another significant milestone by enabling cross-border QR payments through partnership with Alipay+. The partnership with Alipay+ now enables visitors with payment apps from at least 12 countries and regions—including mainland China (Alipay), Hong Kong SAR (AlipayHK), Italy (Tinaba), Malaysia (Touch ‘n Go eWallet, MyPB), the Philippines (GCash), Singapore (Changi Pay, OCBC Digital), South Korea (KakaoPay, Naver Pay, Toss Pay), and Thailand (TrueMoney)—to pay at NEPALPAY QR merchants.
“This is the first-ever rollout announcement of cross-border payments for NEPALPAY QR,” Pradhan announced at the Singapore Fintech Festival 2024. The initiative directly supports Nepal’s tourism industry by removing payment barriers for international visitors, potentially boosting the economy as Nepal welcomes over 900,000 tourists annually.
This cross-border capability positions Nepal as a regional leader in payment innovation, demonstrating how smaller economies can leverage technology to integrate with global financial systems.
Leadership Philosophy: Participation and Innovation
Pradhan describes his leadership style as direct and participative, believing in leading by example while fostering collaboration across NCHL’s stakeholder network. At NCHL, he maintains a hands-on approach while delegating responsibilities across the organization’s talented team.
“Leadership is about driving and motivating a team to a progressive direction,” he explained in interviews. His focus on collaboration has been essential given NCHL’s role as shared infrastructure serving all of Nepal’s banks and financial institutions, requiring consensus-building and stakeholder management skills.
The company’s relatively small size with highly skilled techno-functional staff has enabled rapid innovation and deployment of new payment systems. This agile approach has allowed NCHL to respond quickly to market needs and regulatory requirements, maintaining Nepal’s competitive position in regional fintech development.
Pradhan’s leadership extends beyond NCHL to the broader Nepali fintech community, where he advocates for digital literacy and broader adoption of digital payment solutions across various sectors of Nepal’s economy.
Overcoming Digital Transformation Challenges
Building Nepal’s digital payment infrastructure required overcoming significant challenges unique to a developing economy. User adoption, regulatory coordination, and technical integration across diverse banking systems demanded both technical innovation and sophisticated stakeholder management.
Cybersecurity and trust-building remain ongoing priorities as digital transaction volumes grow exponentially. NCHL has implemented international best practices for security and risk management, ensuring user confidence in digital payment channels while meeting Nepal Rastra Bank’s regulatory requirements.
The transition from cash-dependent to digital payment systems required extensive user education and bank staff training across Nepal’s diverse geographic and cultural landscape. NCHL’s participative approach ensured that banks and financial institutions remained engaged throughout implementation phases, contributing to higher adoption rates in both urban and rural areas.
Regional variations in technology adoption, from the Terai plains to the mountain districts, required flexible implementation strategies that could accommodate different levels of digital literacy and infrastructure availability.
Current Impact and Future Vision for Nepal
NCHL’s payment systems now process the majority of digital payments in Nepal, including transactions for the Government of Nepal, financial institutions, and retail customers. The infrastructure has enabled everything from tax payments to daily dal bhat purchases through digital channels, fundamentally changing how Nepalis interact with money.
The Government of Nepal has moved all its payout transactions to e-payments and is expanding e-payment collection across all 753 local government levels. This digital transformation reduces bureaucratic delays, increases transparency in government financial operations, and improves service delivery to citizens across Nepal.
Pradhan’s vision extends beyond current achievements. “Cashless economy is our vision and the mission is less-cash economy” he stated, recognizing that complete digitization is a gradual process requiring continued innovation and adaptation to Nepal’s evolving economic needs.
Recent milestones include NEPALPAY QR surpassing 100,000 merchants and the development of sophisticated cross-border payment capabilities. The Retail Payment Switch now handles close to Rs 500 billion in monthly transactions, approaching the total value of cash in circulation and indicating Nepal’s rapid progress toward digital financial inclusion.
Recognition and Industry Awards
Pradhan has been recognized among the “100 People to Watch 2025” by Business 360 Nepal, acknowledging his contributions to Nepal’s digital payment revolution and his continued leadership in fintech innovation. This recognition reflects both his individual leadership and NCHL’s collective impact on Nepal’s financial sector development.
His speaking engagements at international conferences, including the Singapore Fintech Festival, have positioned him as a regional thought leader in digital payments and financial inclusion, representing Nepal’s achievements on the global stage.
The recognition comes as NCHL celebrates over a decade of operations, having successfully established multiple national payment systems that serve millions of Nepali users daily and contribute significantly to the country’s economic development.
Frequently Asked Questions
Q: Who is the CEO of Nepal Clearing House Limited (NCHL)?
A: Neelesh Man Singh Pradhan is the founding CEO of Nepal Clearing House Limited (NCHL).
Q: What is connectIPS and how does it work?
A: connectIPS is a faster payment system developed by NCHL that allows real-time retail payments directly from bank accounts across multiple channels including web, mobile apps, and APIs.
Q: What are Neelesh Man Singh Pradhan’s main contributions to digital payments in Nepal?
A: His main contributions include establishing NCHL and developing crucial payment infrastructures like connectIPS, National Payments Interface Nepal, and the Retail Payment Switch, transforming Nepal’s digital payment landscape.
Q: What is the National Payments Interface Nepal?
A: The National Payments Interface Nepal is an open API platform by NCHL that consolidates various payment systems to enhance interoperability in Nepal’s financial sector.
Q: Has Neelesh Man Singh Pradhan spoken at international fintech conferences?
A: Yes, he has been a speaker at international fintech conferences including the Singapore Fintech Festival 2024.
Q: What is NCHL’s role in Nepal’s financial system?
A: NCHL operates and establishes national systems for clearing, settlements, and payments, facilitating secure digital transactions across Nepal’s banking sector.
Q: What recent recognition has Neelesh Man Singh Pradhan received?
A: He has been recognized among the “100 People to Watch 2025” by Business 360 Nepal for his leadership in Nepal’s digital payment transformation.
Legacy and Enduring Influence on Nepal’s Digital Economy
Neelesh Man Singh Pradhan’s work has fundamentally transformed how Nepal conducts financial transactions, moving the country from a paper-based, cash-dependent economy toward comprehensive digital financial inclusion. His vision of collaborative infrastructure development has created systems that serve all Nepalis, from urban professionals in Kathmandu to rural farmers in remote districts.
NCHL’s establishment of the NEPALPAY QR standard was a crucial step towards interoperability. This network operates alongside Fonepay, another major digital payment network in Nepal. Together, these two interoperable QR systems form the backbone of the nation’s retail payment ecosystem, ensuring that merchants can accept payments from a wide array of banking and wallet apps, which has been vital for accelerating digital payment adoption across the country.
The payment infrastructure he built enables everything from government revenue collection to cross-border tourism payments, demonstrating how thoughtful technology deployment can drive broad economic development. His participative leadership approach has created sustainable systems that continue evolving with Nepal’s growing digital economy and changing demographic needs.
NCHL’s success under Pradhan’s leadership has positioned Nepal as a regional leader in digital payment innovation, with systems that rival those in much larger economies and serve as models for other developing nations pursuing digital transformation.
As Nepal continues its digital transformation, Pradhan’s foundational work provides the infrastructure for future innovations in fintech, e-commerce, and digital government services. His legacy lies not just in the systems he built, but in proving that developing nations can leapfrog traditional banking limitations through collaborative, well-designed digital infrastructure that serves all citizens.
Sources: Nepal Clearing House Limited official website, Business 360 Nepal Magazine, ShareSansar interviews, The Kathmandu Post, official NCHL LinkedIn, Singapore Fintech Festival 2024 announcements
