Author: Radha Sapkota

Do not get confused with connectIPS and other digital wallets. We went through few FAQs on the website of connectIPS and saw a question that says, “ Is connectIPS another digital wallet?” Well, it is definitely not. So, what makes it different than all those digital wallets? connectIPS is an e-payment system implemented by NCHL as a standardized single payment platform for online payments which includes fund transfers, bill payment and creditor/ merchant payment. All payment transactions are processed directly from/ to bank accounts of the sender and receiver irrespective of the channel – online, mobile and bank branches. The…

Imagine getting your PAN number while staying at home? Or opening a bank account without any physical presence in this lockdown and even further! Well, this dream has become a reality with the official release of the full version of the Nagarik App by the Government of Nepal on the 2nd of May, 2021. Nagarik App is a mobile application developed to incorporate all government services in one single system so that any citizen would get rid of the hassle of carrying a pile of their identification documents whenever visiting any governmental service units/ departments. The beta version of it…

Nepal Clearing House Limited (NCHL) has revised the timing for making transactions and settlements for Real-Time Gross Settlement (RTGS) from its payment systems as per the official notice from Nepal Rastra Bank issued on 2nd of May, 2021.  According to the notice, NRB has addressed the ongoing second wave of Covid-19 and has requested the concerned all to operate RTGS transactions between the time period of 10:30 AM to 1:00 PM only. Based upon this notice, Nepal Clearing House Limited (NCHL) has revised the transaction and settlement timing for RTGS transactions via the payment systems like NCHL- ECC, NCHL-IPS and…

Making Payments Online considering this ongoing restriction due to the Covid pandemic? Here’s the transaction limit for the payment systems (connectIPS, NCHL-IPS, Corporate Pay) of Nepal Clearing House Limited (NCHL). According to the notice published by NCHL, the per transaction limit for regular transactions via NCHL-ECC is set to be Rs 20 Crores. Similarly, the high value transactions in NCHL-ECC can amount from Rs 20 crores to Rs 30 crores. About NCHL-ECC NCHL-ECC is an image-based, cost-effective, MICR (Magnetic Ink Character Recognition) cheque processing & settlement solution where an original paper cheque is converted into an image for electronic processing of…

Are you a local resident of Sindhupalchowk district? And are you wondering how to apply for the IPO of Madhya Bhotekoshi Jalvidyut Company online, since it didn’t show up in Meroshare? If it is so, this article is for you! Since it is open for the locals only, the IPO application is not available in Meroshare. Moreover, you might be skeptic to visit the bank or even go outdoors in this lockdown. Well, you do not need to worry about this since you can apply for this IPO online from eSewa. eSewa has added this facility to ease the local…

The most awaited app developed by the government has been launched today on the occasion of National ICT Day-2021. The official launch of Nagarik App was inaugurated by the Prime Minister KP Sharma Oli, along with the presence of Minister For Communication and Information Technology, Parbat Gurung and other dignitaries. With the tagline “Government Service at your fingertips”, the government had made public the beta version of ‘Nagarik App’ in January 2021 saying that it will provide government services to the citizens hand in hand. It had been in the testing phase since then. Now, it is made available for…

Anyone with a bank account is undoubtedly familiar with these two types of plastic money- Debit card and a Credit Card. While the world is moving towards digital payments and cryptocurrencies, still the importance of cards is prominent in the banking system. With the spread of banking and financial inclusion, the number of these card users is increasing at a considerable rate. Nepal witnessed an increase in the debit cards and credit cards users by 9.5% and 30.17% respectively, in 2020 as compared to 2019. But do you know their actual difference and how to make the most out of…

Nepal Rastra Bank has published its annual report of the Fiscal Year 2077/78. Highlighting the milestones it has reached in the 66 years of operation as the Central Bank of Nepal, the document this year was quite impressive as it portrayed the surge of digital payments in the country along with the financial inclusion. The 24th point of executive summary highlights that the financial access of people towards banks and financial institutions (BFIs) has increased to a larger extent. It is noteworthy that today 747 out of 753 local level governmental units are endowed with the commercial banking services. Data…

If you are worried about how to receive remittance from your dear ones staying abroad in this lockdown, then this article is for you. Did you know that eSewa has a special feature of remittance named “eSewa Remit”? Yes, you can receive remittance directly via eSewa even in this lockdown. eSewa has partnered with various remit companies to ease our homies abroad in sending remittance back home. As it claims, it is committed towards reducing the overall cost of remittance in Nepal by providing competitive alternatives to brick-and-mortar establishments with reduced fees. This service of eSewa has been provided by…

So, what are the Best Digital Wallets in Nepal? Well, if you remember, we had conducted a survey on the 23rd of April about the users’ preferences regarding digital wallets they have been using. We picked the popular digital wallets of the country namely- eSewa, Khalti, IME Pay, Cell Pay, Prabhu Pay, Moru, and Others. The idea was to simply survey the present scenario of customer preferences in digital wallets and to anticipate their market coverage in the digital economy. We had no intention to rank the wallets since it was just a poll, not full-fledged research. The response was…