Popularity of connectIPS e-Payment System service gaining further momentum; Civil, Century & Excel Dev Bank also under broad network

Civil Bank Ltd., Century Bank Ltd and Excel Development Bank Ltd have also been enrolled in the connectIPS e-Payment System from today. With this, the customers of Civil Bank, Century Bank and Excel Development 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 tax revenue payment to Government of Nepal from www.rajaswo.fcgo.gov.np and for online fund transfers, which is in process of being extended for other payment services. connectIPS e-Payment System is currently live with 26 banks & financial institutions.