Enjoy Free Fund Transfer with NEPALPAY Instant!
Customers of the BFIs and PSPs will now be able to make free fund transfer with NEPALPAY Instant for limited period during Dashain and Tihar festival from 1st of Kartik till 30th of Kartik, 2080. With NEPALPAY Instant, the customers can transfer fund using mobile number of the beneficiaries specified at BFIs, Wallets or connectIPS. Such service can be availed from connectIPS, selected mobile banking and wallets (currently available in Sanima Bank, Garima Bikas Bank, Agriculture Development Bank, CellPay, HamroPay, MORU).
NEPALPAY Instant is a proxy based direct credit instrument in which fund transfer or payment is made based on virtual payment address (VPA) of the beneficiary. A sender can initiate a transfer using beneficiary’s mobile number or similar identifier that reduces the need of exposing bank accounts for fund transfers. This allows the customers to initiate transfer from mobile banking or wallet or connectIPS by selecting the network and then entering mobile number of the beneficiary.
