22 July 2021, Kathmandu
Nepal Oil Corporation Limited has formally enabled digital payments through NCHL in its SAP system. That will enable its dealers and partners for online payments from various channels of connect-IPS (web, mobile app, and gateway), CORPORATEPAY, and any of the BFI branches. Within just four days of the rollout, it has successfully processed over NRs 3.97 Billion equivalent of payments from the dealers all over Nepal.
NOC is the first Government entity to implement an internationally acclaimed SAP system in Nepal, an enterprise resource planning (ERP) system for automation of entire processes. And with the automation of the payments process, the dealers and partners of NOC can now use alternate online channels and bank branches for payment.NOC is also working together with NCHL to roll out digital payments of its expenses also. The digitization initiatives of NOC are believed to be a giant leap in the sector and are expected to help increase its transparency and efficiency largely.
- Dealers can request their banks & financial institutions for payment to NOC, corresponding to which it will have to provide payment details including ‘Customer Id’ and ‘Payment Heading.’
- The bank will initiate the payment from the Bank Central system provided by NCHL to the branches. Upon completing the payment, the details are updated at NOC’s SAP system for necessary service/ product delivery.
- Such payments from bank branches can be made up to 10 Lakh for real-time Off-us (different banks) payments, up to 1 Cr for real-time On-Us (same banks) payments, and up to 20 Cr for non-real-time payments.
- Dealers can also initiate NOC-related payment from connectips.com or mobile app or CORPORPATEPAY or payment gateway available in NOC’s Dealer’s portal by using valid login credentials of such channels or systems. The transaction limit may vary depending on the channel used.
NCHL’s connect-IPS system is currently enrolled by over 54 members BFIs as single payments platform for payment processor (gateway), fund transfer, and biller payments. Its NCHL-IPS system and CORPORATEPAY system are enrolled by over 62 and 30 BFIs, respectively. NCHL has facilitated the Government of Nepal institutions, enterprises, and other businesses to enable digital payments.
Nepal Oil Corporation Limited (NOC) is a state-owned trading enterprise in Nepal that solely imports, stores, and distributes various petroleum products. It was established in 1970 by the Government of Nepal.NOC has successfully implemented an SAP system that took over a year for project management and installation, which is expected to transform the management and governance at NOC.