ConnectIPS User Based Fund Transfer is now Free

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 Kathmandu, Sept 6. Nepal Clearing House Ltd. (NCHL), a company promoted by Nepal Rasta Bank and the banks & financial institutions (BFIs has started a campaign within connectIPS e-payment system to allow the bank customers to transfer fund for freefor the transfers made between the connectIPS users based on the registered mobile number for limited period. This is expected to ease the end customers in using the real-time fund transfer facility directly from their bank accounts.

NCHL has been operating connectIPS e-Payment System for the customers of over 53 BFIs as a standardized single payments platformto enable bank account based real-time payments. Some of the services available in the platform are online fund transfer, payment processor (gateway) and creditor/biller payments including Government tax, Loksewa application fee, Office of Company Registrar payments, Citizen Investment Trust loan repayment, Social Security Fund payment, credit card bill payments, mobile wallet top-up, NEPSE online trading and capital market related payments and similar.

The bank customers can enroll in the connectIPS system and link their bank accounts(s) with one-time verification from the bank, after which they can use the system. The payments can be done by the customers from, its mobile application or through payment processor (gateway) available on the service provider’s respective websites.