Jyoti Bikas Bank also joins connectIPS e-Payment System

Kathmandu, Aug 14 . Jyoti Bikas Bank Ltd. has also been enrolled in the connectIPS e-Payment System from today. With this, the customers of Jyoti Bikas Bank will be able to initiate online payment transactions up to NRs 100,000 per transaction through the connectIPS system.

connectIPS is a standardized single payments platform introduced by NCHL, a company promoted by Nepal Rastra Bank and Banks & Financial Institutions. The bank customers can enroll and link their bank accounts(s) with one-time verification from their respective banks, after which they can use the payment services including fund transfer, online payments and biller payments. All such transactions are processed directly from the bank accounts and does not require any intermediary.

The service is now available for the customers from www.connectips.com for tax revenue payment to Government of Nepal from one of the tax offices and for online fund transfers, which is in process of being extended for other payment services. connectIPS e-Payment System has already been subscribed by 32 banks and financial institutions among which 23 are now in operations.