Lumbini Bikas Bank joins connectIPS e-Payment System

Lumbini Bikas Bank Ltd has also been enrolled in the connectIPS e-Payment System from today. With this, the customers of Lumbini Bikas Bank will also be able to enroll itself in the system and initiate online payment transactions through connectIPS system.

connectIPS is a standardized single payments platform in which the 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 tax revenue payment to Government of Nepal from one of the tax offices and customer fund transfers, which is in process of being extended to other tax/non-tax revenue payments. connectIPS e-Payment System has already been subscribed by 32 banks and financial institutions among which 18 are already in operations.