Nepal Remit Joins NCHL for Direct Remittance Transaction

14 Aug, Kathmandu : Nepal Remit International P. Ltd. joins Nepal Clearing House Ltd. as indirect member for using National Payments Interface (NPI) to process its remittance transactions directly into the beneficiary’s bank accounts through NCHL-IPS system and connectIPS e-Payment system. Nepal Remit will now be able to process their remittance transactions through connectIPS e-Payment for real-time low value transfers and through NCHL-IPS system for bulk deferred mid to high value transfers. This will facilitate Nepal Remit for direct to bank account based remittance, considerably improving the service delivery.

NPI is a consolidated interface for interconnection with multiple underlying core systems and is designed to facilitate the participants to initiate and process their payments. connectIPS and NCHL-IPS has 56 and 64 member BFIs respectively within its network. It has already been enrolled by over 8 remittance companies including IME Ltd., City Express Money Transfer, GME Remit, Bhatbhateni Remit, Cashway Money Transfer, Ipay Remit, Lalit Money Transfer and EasyLink Remittance. It has other 31 non-bank institutions including PSPs/PSOs, insurance companies, remittances, merchant banks, Government/ Semi-Govt institutions as its indirect/ technical members.

Nepal Remit International P. Ltd. is one of the major remittance companies licensed by Nepal Rastra Bank and is striving to lead in the international inward money transfer business in Nepal, by offering unmatched service in the industry and by adapting new technologies ensuring that the remittance process is smooth & fast. For more information, visit www.nchl.com.np