ConnectIPS User Based Fund Transfer Is Now Free

IPS Inter Bank Payment System
IPS Inter Bank Payment System

Sunday, September 15, 2019

For clients with more than 53 Banks and Financial institutions, NCHL has been providing the connect IPS e-Payment service that enables real-time bank account-based payments. A few of the utilities accessible on the system include internet fund transaction, payment processor (portals) and creditor/biller transfers such as tax, Loksewa application fee, Citizen Investment Trust loan repayment, Social Security Fund deposit, Company Registrar billing, payment of credit card bills, mobile wallet top-up. Customers from the banks that support connect IPS system need to connect their bank account to the system id along with an OTP that is provided by the bank. Once the connect IPS service is linked to the bank account, customers can utilize the services as mentioned above by their website, mobile application, or payment portals that are available on various service provider’s apps/sites.

NCHL have expanded their services by starting the interbank payment system service between City Express Money Transfer and Nepal Clearing House. The payment system service will be available from over 80 banks and financial institutions via the Connect IPS of Nepal Clearing House.

Under this service, remittance transactions through City Express Money Transfer can now be paid in real-time via Connect IPS e-payment and through NCL-IPS within the specified limits.

The companies say that bank payments and transactions will become very easy and straightforward through this collaboration.

The agreement was signed by Chief Executive Officer Neelesh Pradhan on behalf of Nepal Clearing House and Managing Director Chandra Tandon on behalf of City Express Money Transfer.

City Express has been established as one of the most trusted and highly preferred services. It has been able to develop its unique identity in the remittance sector and has been providing payments for more than 13 years via their agents to more than 7000 Nepalese worldwide.

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