7th March 2022, Kathmandu
CORPORATEPAY system has been recently upgraded with additional paid services and features, including online registration requests for enrollment.
The corporates and business enterprises can now quickly initiate online registration in the system, based on which its bank can complete the remaining enrollment process.
Other additional services that have been added are bulk payments for utility &creditor payments, quick payment for regular transactions, account statements and similar other value-added services.
The online registration process can be initiated from the corporatepay.connectips.com website. A company can submit its details for registration, assign hierarchical roles of the users, select the bank account details and complete a one-time online process.
Based on the online request, the respective bank will do one-time approval for activating the corporate and its users based on the documents submitted or available with the bank. The online registration process is expected to ease the business entities to enroll within the CORPORATEPAY system with a one-time approval process.
CORPORATEPAY is a business payments platform provided by NCHL through more than 48 BFIs.It gives the business customers an alternate channel to initiate online transactions such as fund transfer, salary payments, vendor or party payments, government payments, utility & creditor payments.
The system provides additional internal controls for multi-authorization customers and a hierarchy for managing multiple signatories for account operations.
It also has a feature to link multiple bank accounts through its respective BFIs and operate from a single digital channel. It supports bulk and individual transactions that can be processed through underlying retail payment switches for real-time transactions up to NRs. Twenty lakhs per transaction or through NCHL-IPS for non-real-time transactions up to NRs. Twenty crores per transaction and NRs. 30 crores per transaction for government revenue payments.
