Share broker ayment added in connectIPS e-Payment System

Kathmandu, Nov 4 . Nepal Clearing House Ltd. (NCHL) has added share broker payment through its connectIPS e-payment system. With this, the customers of brokers will now be able to make online payment against share purchase using connectIPS e-Payment system directly from their bank account. Currently 12 brokers (Broker No. 10, 11, 13, 16, 17, 20, 21, 22, 25, 38, 49 and 59) are operational in the system and others are in the process of enrollment.

The customers can enroll in and link their bank accounts(s) with one-time verification from their respective banks, after which they can easily make online payments directly to the share broker’s bank accounts. Currently the services related to government revenue payments, online fund transfer, credit card bill payments, mobile wallet top-up were available through both online (web) version and mobile application. The per bank per transaction limit for online payment is NRs 1,00,000.00 and up to NRs. 5,000 .00 through mobile application.

connectIPS is a standardized single payments platform introduced by NCHL, a company promoted by Nepal Rastra Bank and Banks & Financial Institutions. It has already been subscribed by 44 banks and financial institutions among which 34 are now in operations.