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Progressive Finance Starts Electronic Payment System

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January 29: Nepal Clearing House Ltd (NCHL) and Progressive Finance Limited on Sunday, January 28, signed an agreement to initiate Inter-Bank Electronic Payment System (IPS) service.

Nileshman Singh Pradhan, CEO of NCHL, and the CEO of the finance company, Bishal Humagain, signed the agreement on behalf of their respective companies. As per the agreement, NCHL will provide the system to the finance company for inter-banking electronic payment service.

Under the NCHL Inter-Bank Electronic Payment System, customers can make electronic transaction with any of the member banks using this system.

Services like money transfer, payment of dividend, IPO refund, bill payment, premium payment, social security allowance, pension/salary payment, and remittance payment can be done using this system, reads a joint statement issued by the companies.

 

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