ConnectIPS e-Payment System Officially Launched in Nepal

Though services like eSewa and Khalti make our life convenient by giving us options to pay online, it is still a hassle to transfer your money from your bank account to these services. Either you go to physical stores that do this job or you do it yourself if you have an online bank account.

But what if all these 3rd party interventions could go away? As you can see, services like eSewa and Khalti are just like vessels that take money from your bank, hold it, and let you use it whenever you want. What if you could do away with the vessel? What if your bank account could act as the holder for your money and you could use it to pay online directly? This is where ConnectIPS comes in.

ConnectIPS e-Payment System is a standardized single payments platform that facilitates online payment directly from/to the bank account of the customers. No need for any 3rd party holders. The service now can be used by the customers of the member Banks from www.connectips.comfor the enrollment where they have to link their bank account(s) with one-time verification from their respective bank(s) after which they can use the system for the services including online fund transfer, government revenue payments and creditor payments.  The per transaction limit for online payment is NRs 1,00,000 and up to NRs. 5,000 through the smartphone app.

Fund transfer to your own account or someone else’s account is now much easier. You just need the beneficiary’s mobile number for fund transfer if he/she is also a user of the connectIPS. You can even transfer with his/her bank account details or just add his/her details under the favorite list, if you need to do regular payments.

Connect IPS has already been subscribed by 44 banks and financial institutions. Among these, 32 are now in operations and the company is still in the process of adding more banks within its network. The app is already available in Play store and will be coming to iOS soon. If you like the idea of this payment system, go ahead and sign up here.