Reliance Finance joins connectIPS e-Payment System as its new member

Nepal Clearing House Ltd. (NCHL) has enrolled Reliance Finance Limited also in the connectIPS e-Payment System from today. With this, the customers of Reliance Finance Limited will also be able to initiate online payments from www.connectips.com and its mobile application, with all transactions processed directly from the bank accounts.

The bank’s customers can enroll and link their bank accounts(s) with one-time verification from the bank, after which they can use the platform for services of fund transfer, online payments and creditor/biller payments including online fund transfer, government tax payments, loksewa application payment, credit card bill payments, mobile wallet top-up, share broker payments, renewal of demat and meroshare etc. The customer can also avail various merchant based payments from their payment gateway.

connectIPS is a standardized single payments platform introduced by Nepal Clearing House Ltd., a company promoted by Nepal Rastra Bank and Banks & Financial Institutions. It has already been subscribed by 52 banks and financial institutions among which 45 BFIs are now in operations.