19th September 2022, Kathmandu
Hamro Patro Remit has signed an agreement with Nepal Clearing House Ltd. (NCHL) as an indirect member of the National Payment Switch (NPS) for local disbursement of its digital remittance.
The agreement was signed by Ms. Sudina Gautam, CEO of Hamro Patro Remit, and Mr. Neelesh Man Singh Pradhan, CEO of NCHL.
Hamro Patro will now have access to various digital instruments under NPS through National Payments Interface (NPI), through Nepal Investment Bank Ltd. as its settlement bank, for automating its remittance transactions. All transactions will be credited directly into the beneficiary’s bank accounts and later enhanced for credit to various other instruments also.
A remitter can initiate its remittance directly from the Hamro Patro app, corresponding to which the beneficiary will instantly receive the remittance in their bank account. Other options of disbursements for digital remittance through various other instruments of NPS will also be rolled out gradually.
Hamro Patro Remit is a fully digital remittance company licensed by Nepal Rastra Bank and is currently active for USA-Nepal remittance and has plans to extend to other territories in near future. Hamro Patro is one of the most downloaded apps in Nepal and is used extensively by those residing abroad.
The introduction of Hamro Patro Remit as an extended service of Hamro Patro is expected to largely support digital remittance to Nepal with the added convenience of faster credit to the beneficiaries.
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/ connect-IPS) and non-real-time batch (NCHL-IPS) payment systems. It has over 59 BFIs and 73 plus non-bank institutions. There are currently 13 remittance companies that are using NCHL’s payment systems as a domestic rail for local disbursements through their respective settlement banks.
For more information, visit www.nchl.com.np.
