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October 26: Nepal Clearing House Limited (NCHL) has signed an agreement with IME Digital Solution for initiating Interbank Payment System and connectIPS e-Payment System.
According to the agreement, users of IME Pay mobile wallet will be able to load fund in their IME Pay account from any of the linked bank account of connectIPS e-Payment System.
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, reads a statement issued by NCHL.
Neelesh Man Singh Pradhan, CEO of NCHL and Daniel D Shrestha, COO of IME Digital Solution, signed the agreement on behalf of their respective organisations amid a recent function.
NCHL said in a statement that the connectIPS e-Payment system has been subscribed by 44 banks and financial institutions among which 32 are now in operation.
“The NCHL-IPS system currently has 75 banks and financial institutions as its members with coverage of over 4,200 branches all over Nepal,” the statement added.
The company claimed that IME Digital Solution, 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 channels with a network of over 15,000 agents spread across the country.
Apart from the BFIs, NCHL said it has recently been working with other non-banking institutions and PSPs/PSOs in a collaborative approach for the overall development of digital payment ecosystem in Nepal.
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<p>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, reads a statement issued by NCHL.</p>
<p>Neelesh Man Singh Pradhan, CEO of NCHL and Daniel D Shrestha, COO of IME Digital Solution, signed the agreement on behalf of their respective organisations amid a recent function.</p>
<p>NCHL said in a statement that the connectIPS e-Payment system has been subscribed by 44 banks and financial institutions among which 32 are now in operation.</p>
<p>“The NCHL-IPS system currently has 75 banks and financial institutions as its members with coverage of over 4,200 branches all over Nepal,” the statement added.</p>
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