IME Pay joins NCHL-IPS and connectIPS e-Payment System; enjoy loading fund in IME Pay wallets from any linked bank accounts of connectIPS e-Payment System

NCHL has signed an agreement with IME Digital Solution Ltd. as an Indirect Memberfor accessing Interbank Payment System (NCHL-IPS) and connectIPS e-Payment System. The agreement was signed by Mr. Neelesh Man Singh Pradhan, CEO of NCHL and Mr. Daniel D Shrestha, COO of IME Digital Solution Ltd.

Additional facility of load fund in IME Pay mobile wallet has now been made available from today, whereby customers will be able to load fund in its IME Pay wallet from any of its linked bank account of connectIPS e-Payment System. This could be initiated from IME Pay mobile wallet or from connectips application. NCHL and IME Pay will soon implement the Wallet to Bank facility to cash out mobile wallet balance to the linked bank account through NCHL’s system.

connectIPS e-Payment system has been subscribed by 44 banks and financial institutions among which 32 are now in operations. The NCHL-IPS system currently has 75 member banks and financial institutions as its members with coverage of over 4,200 branches all over Nepal. IME Digital Solution Ltd, promoted by IME Group, is the first NRB licensed PSP of Nepal. It has been providing various services of merchant payments, utility payments and fund transfers through self-served as well as agent based channel with a network of over 15,000 agents spread across the country.

Apart from the BFIs, NCHL has recently been working with other non-bank institutions and PSPs/PSOs in a collaborative approach for the overall development of digital payment ecosystem in Nepal. And this partnership between NCHL and IME Digital Solution Ltd. is in the same direction, whereby NCHL will facilitate by providing linkages to the payments infrastructure and the PSPs will focus on the services.