Kailash Bikas Bank joins connectIPS e-Payment System

Kailash Bikas Bank Ltd. has also been enrolled in the connectIPS e-Payment System from today. With this, the customers of Kailash Bikas Bank will be able to initiate online payment transactions up to NRs 100,000 per transaction through the connectIPS system.

connectIPS is a standardized single payments platform introduced by NCHL, a company promoted by Nepal Rastra Bank and Banks & Financial Institutions. The bank customers can enroll and link their bank accounts(s) with one-time verification from their respective banks, after which they can use the payment services including fund transfer, online payments and biller payments. All such transactions are processed directly from the bank accounts and does not require any intermediary.

The service is now available for the customers from www.connectips.com for their enrollment and for online fund transfers, whereas through respective websites of www.rajaswa,fcgo.gov.np, www.revenue.fcgo.gov.np and www.ird.gov.np Government revenue payments. Other creditor/merchant payments are also being added in the connectIPS e-Payment System, which has already been subscribed by 40 banks and financial institutions among which 31 are now in operations.