20th January 2024, Kathmandu
NCHL Processes Record-Breaking NRs. 84 Billion Transactions in Poush, Gov’t Revenue Tops 1.6 Billion via connectIPS & More
Nepal Clearing House Ltd. (NCHL) witnessed a remarkable surge in both transaction volume and value on the last day of Poush 2080, processing a staggering total of over NRs. 84 billion through its payment systems.
This represents a 70% year-on-year increase in transaction value, showcasing the rapid adoption of digital payments across Nepal.
The surge was driven by strong performance across all NCHL platforms:
NCHL Processes Record-Breaking
- NCHL-ECC: NRs. 41 billion
- NCHL-IPS: NRs. 14 billion
- RPS: NRs. 29 billion
Real-time payments platform RPS saw a significant upswing in transactions initiated through various channels, including:
- connectIPS (App, Web, Gateway)
- CORPORATEPAY
- Bank branches
- Mobile banking
- Wallets
- NPI-integrated channels and systems
Government Revenue Collection Soars through NCHL Channels:
NCHL played a pivotal role in facilitating government revenue collection, witnessing over NRs. 1.6 billion in collections and NRs. 6.8 billion in disbursements, with over 1.25 lakh transactions processed. This further underscores the growing reliance on NCHL’s efficient and secure infrastructure for government financial operations.
Widespread Reach and Accessibility:
NCHL’s extensive network, comprising 53 direct member banks and financial institutions and over 100 indirect/technical members, provides unparalleled reach and accessibility. These BFIs, through their 7,000+ branches and the extensive networks of their indirect members, ensure that digital payment services are readily available to users across the country.
Driving Nepal’s Digital Transformation:
NCHL’s impressive performance on Poush End highlights the increasing momentum behind Nepal’s digital transformation journey. By providing a robust and inclusive payment infrastructure, NCHL is empowering individuals and businesses, streamlining government operations, and fostering economic growth.
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