26th June 2023, Kathmandu
The monthly transactions in CORPORATEPAY have crossed NRs. 50 Billion in the month of Jestha, 2080, the highest for a single month since it was started from Magh 2077.
The total transaction value for the current fiscal year has reached more than NRs 421 Billion, which was NRs 190.5 Billion during the last fiscal year.
The usage and acceptability of CORPORATEPAY, as the primary channel for B2B payments by businesses and institutions has considerably increased, which has helped grow the transactions by over two folds.
The platform has been used by various institutions such as educational institutions, travel and tours, construction companies, trading firms, retail businesses, and many others.
The platform is currently being used by over 7,700 institutional customers of the over 47 BFIs, with the ability for them to link and manage multiple bank accounts under CORPORATEPAY as the unified business platform.
It provides the businesses to initiate and process their fund transfers, Government tax payments, Department of Customs, Beema Samiti, Nepal Oil Corporation, salary payments, EPF/CIT/SSF payments, vendor & party payments, and other service payments. Additional services available include bulk payments for utility & creditor payments, and fund and receivable management.
The transactions from CORPORATEPAY can be processed in real-time through retail payment switch (RPS) or as batch-based through NCHL-IPS, corresponding to which per transaction limits vary up to NRs 20 lakh in RPS and up to NRs 20 Cr in NCHL-IPS.
For additional security, the system can be used over the secured network with multi-factor authentication and authorization.
The account operating mandates based on each bank account, amount, or transaction type can be set for a higher level of control and risk management by the corporates.
Corporates and business enterprises can easily initiate an online registration process from the Click Here website, from where a company can submit its details for registration, assign hierarchical roles of the users, select bank account details, and complete a one-time online process.
The respective bank will then do one-time approval for activating the corporate and its users, based on the documents submitted or available with the bank. The banks can also enroll their institutional customers on a manual basis.
For more information, contact your bank Click Here
