City Express Finance also on Interbank Payment System

Nepal Clearing House Ltd. (NCHL), has enrolled City Express Finance Ltd. in the Interbank Payment System (NCHL-IPS), corresponding to which the customers of City Express Finance will now be able to avail direct credit (payment) and direct debit (collection) types of payment transactions to/from any of the member banks and financial institutions. NCHL-IPS provides payment services for customer transfer, remittance, treasury, dividend payment, fees payment, insurance premium, social security, salary/ pension, government payment, etc. between the members.

Nepal Clearing House Ltd. (NCHL), promoted by Nepal Rastra Bank, Banks & Financial Institutions and Smart Choice Technologies Ltd, has objectives to implement multiple national payment and settlement systems in Nepal. It has been operating NCHL-ECC for processing of paper based financial instruments, NCHL-IPS for processing of instruction based direct credit/ direct debit instruments and connectIPS e-Payment system for processing of electronic payments through alternate channels.

NCHL-IPS currently has over 75 banks & financial institutions as its direct members and other 3 institutions as indirect/ technical members.