Cashway Money Transfer joins NCHL; to process remittance transaction directly to beneficiary’s bank account  

Cashway Money Transfer Pvt. Ltd. Has joined Nepal Clearing House Ltd. as an indirect member for using National Payments Interface (NPI) to process its remittance transactions directly into the beneficiary’s bank accounts. Cashway will now be able to process their remittance transactions through underlying payment systems of connectIPSe-Payment for real-time transactions and through NCHL-IPS system on the deferred basis for mid to high-value payments. Cashway will initially be using Mega Bank Ltd.for initiating its transactions. The arrangement is expected to largely help Cashway to improve its service delivery with all transactions being processed through bank accounts.

NPI is a consolidated interface for interconnection with multiple underlying payment systems of NCHL. It is already being used by over eight major remittance companies. And there are over 41 non-bank institutions including PSPs/PSOs, insurance companies, remittances, merchant banks, Government, semi-Govt institutions as its indirect or technical members, who are using NPI through one of its settlement banks.

Cashway Money Transfer is an emerging money Transfer Company committed to providing a reliable network of remittance solutions all over Nepal. It is formed primarily to offer remittance services in Nepal and promoted by well-known and experienced figures from the Nepalese banking remittance industry. It has been providing inbound remittance service at much reliable and cost-effective way.

For more information, visit www.nchl.com.np