January 17: Monthly transactions on the Connect IPS e-payment platform, operated by Nepal Clearing House Limited (NCHL) have exceeded Rs 10 billion, according to the company.
Connect IPS, which started in April 2018, recorded its highest transaction amount in the Nepali month of Poush which was Rs 12.05 billion.
The company stated that the increasing use of its platform signals a growing acceptance of real time retail payment systems in Nepal.
Connect IPS is an integrated e-payment platform that offers online fund transfer, payment processor (gateway), credit card/bill payments along with many other financial services. Clients can use the platform for inter-bank fund transfer, tax payment, payment of fees of various governmental organizations like the Public Service Commission, Office of Company Registrar, Citizen Investment Trust, Department of Passport, Social Security Fund, loading mobile wallets, for NEPSE Online trading and payment of stock brokers, travel agencies, school/college fees and insurance along with many other banking services.