Easylink Remittance joins NCHL service; National Payments Interface to enable Easylink customers to disburse remittance amount directly to bank accounts
Easylink Remittance(P.) Ltd. Has joined Nepal Clearing House Ltd. (as an indirect member) for using National Payments Interface (NPI) for depositing foreign remittance transactions directly into the beneficiary bank accounts in Nepal.
With this arrangement, Easylink Remittance will be able to process their remittance transactions through underlying payment systems of NPI, namely, connectIPS e-Payment for real-time low-value payment and through NCHL-IPS system on the deferred basis for mid to high-value payments. This is expected to considerably improve the service delivery of the remittance company.
NPI is a consolidated interface (APIs) that works as a single channel for interconnection with multiple underlying core systems and is designed to facilitate the participants to initiate and process their payments. connectIPS and NCHL-IPS has 52 and 63 members BFIs respectively within its network. NCHL has been operating NCHL-ECC, NCHL-IPS, connectIPS e-Payment, connectRTGS and National Payments Interface (NPI) and providing access to its payment infrastructures to various non-bank institutions like insurance, remittance, merchant banks, PSPs, PSOs, Government & Semi-Government entities and others as indirect/ technical members facilitating the bank account-based transactions through its various payment systems and remittance is one of such transactions. It has already enrolled 7 remittance companies including Lalit Money Transfer, City Express Money Transfer, IME Ltd, GME Remit, Bhatbhateni Remit, Cashway Money Transfer, and Ipay Remit, and a total of 34 non-bank institutions as its indirect/ technical members.
EasyLink Remittance (P.) Ltd. is the first remittance company in Nepal established in 1999 and since its establishment has been contributing to benefit the Nepalese who reside & work overseas and who wish to send money home in a much safer, faster, and reliable way. With the main objective to deliver quality remittance services at affordable fees, it has been thriving to create value through strategic alliances both globally and within the nation.
