IME and GME join NCHL for its remittance transactions

Nepal Clearing House Ltd. (NCHL), has been processing remittance transactions of majority of the remittance companies and of the banks directly into the beneficiary bank accounts and in order to make this process easier and more simplified, GME Remittance and IME Ltd have been directly integrated with the NCHL-IPS and connectIPS e-Payment systems.

With this, the remittance companies will be able to process their remittance transactions on real time basis through connectIPS e-Payment for low value payment and on deferred basis through NCHL-IPS system for high value payments. The beneficiaries will now be able to receive the remittance on immediate basis and the service delivery of the remittance companies are expected to improve considerably.

connectIPS e-Payment and NCHL-IPS systems currently have 47 and 79 BFIs respectively as its members.