Progressive and City Express Finance also joins connectIPS e-Payment System

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Kathmandu, May 8 . Nepal Clearing House Ltd. (NCHL) has enrolled Progressive Finance, and City Express Finance in the connectIPS e-Payment System from today. With this, the customers of Progressive Finance, and City Express Finance will be able to initiate online payments from and its mobile application, with all transactions processed directly from the bank accounts.

The bank’s customers can enroll and link their bank accounts(s) with one-time verification from the bank, after which they can use the platform for services of fund transfer, online payments and creditor/biller payments including online fund transfer, government tax payments, loksewa application payment, credit card bill payments, mobile wallet top-up, share broker payments, renewal of demat and meroshare etc. The customer can also avail various merchant based payments from their payment gateway.

connectIPS is a standardized single payments platform introduced by Nepal Clearing House Ltd., a company promoted by Nepal Rastra Bank and Banks & Financial Institutions. It has already been subscribed by 54 banks and financial institutions among which 47 BFIs are now in operations.