KamanaSewa Bikas Bank Ltd. has also been enrolled in theconnectIPS e-Payment System from today. With this, the customers of KamanaSewa Bikas Bank will be able to initiate online payment transactionsup to NRs 100,000 per transaction through the connectIPS system.
connectIPS is a standardized single payments platformintroduced 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 revenue payment through website (www.rajaswa,fcgo.gov.np, www.revenue.fcgo.gov.np and www.ird.gov.np) of Government of Nepal and for onlinefund transfers, which is in process of being extended for other payment services.connectIPS e-Payment System has already been subscribed by 41 banks and financial institutions among which 30 are now in operations.