55 billion transactions in 7 months by ‘Corporate Pay’

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Nepal Clearing House Limited’s ‘Corporate Pay’ system has cleared transactions equal to 55 billion rupees in seven months of the current financial year. The ‘Corporate Pay’ system is being used so that small and medium business and institutional customers of banks/financial institutions can easily make digital payments.

Currently, more than 2,600 commercial customers have joined the system through 48 banks and financial institutions. The Clearing House has informed that various payments can be made through the system including fund transfer, salary payment, vendor payment and government of Nepal revenue.

Lately, Nepal Oil Corporation, Customs Department’s notification letter and payment related to various other services have been added to this system. Multi-authorization and multiple signatures have also been arranged for business customers to conduct payment transactions securely.

According to the clearing house, in this system, up to 20 million rupees per transaction can be made in real time and up to 20 million rupees per transaction in non-real time and up to 30 million rupees per transaction from the Government of Nepal.

Also, in this system, there is a provision to link more than one bank account on the same platform and make transactions. Customer should contact their Bank/Financial Institution to join the system operated by NCHL.

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