Kathmandu, January 6: Nepal Clearing House Ltd. (NCHL) has started a joint promotion campaign with the leading banks of Nepal to promote the bank account based digital transactions through connectIPS e-Payment System.
The bank customers, who link and verify their bank account with connectIPS, will be incentivized with the balance deposit Rs.100 by the respective banks during the campaign period. The incentive is currently available for the customers of Laxmi Bank, CitizensBank International, Nabil Bank, and Nepal Bank, who will also assist the customers to create user and link bank accounts.
The customers will be able to do the payment transactions directly from their bank accounts using connectIPS platform, corresponding to which such transactions can be initiated from its mobile App, web (connectips.com) or some of the bank’s own mobile banking.
connectIPS e-payment system is a standardized single payments platform for online payments which includes online fund transfer, payment processor (gateway) and creditor/biller payments.
Some of the services that are on-boarded on the platform by the member banks are government tax payment, Loksewa application fee, Office of Company Registrar payments, CIT loan repayment, Social Security Fund payment, and credit card bill payments, among others. Other such services include mobile wallet top-up, NEPSE online trading, broker & capital market-related payments, travel agency payments and school/colleges, insurance payments.
The campaign has been rolled out to support the industry initiatives to promoting bank account based digital transactions jointly with the banks and financial institutions.
