Nepal Oil Corporation Limited has formally enabled digital payments through NCHL in its SAP system. That will enable its dealers and partners for online payments from various channels of connectIPS (web, mobile app and gateway), CORPORATEPAY and any of the BFI branches.
Within just four days of rollout, it has successfully processed over NRs 3.97 Billion equivalent of payments from the dealers all over Nepal.
NOC is the first Government entity to implement an internationally acclaimed SAP system in Nepal, which is an enterprise resource planning (ERP) system for automation of entire processes. And with the automation of payments process, the dealers and partners of NOC can now use alternate online channels and bank branches for payment.NOC is also working together with NCHL to rollout digital payments of its expenses also. The digitization initiatives of NOC is believed to be a giant leap in the sector and is expected to largely help increase its transparency and efficiency.
How can dealers/ partners pay to Nepal Oil Corporation now?
- Dealers can request its banks & financial institutions for payment to NOC, corresponding to which it will have to provide payment details including ‘Customer Id’ and ‘Payment Heading’.
- The bank will initiate the payment from Bank Central system, provided by NCHL to the branches, and upon completion of the payment, the details are updated at NOC’s SAP system for necessary service/ product delivery.
- Such payments from bank branches can be made up to 10 Lakh for real-time Off-us (different banks) payments, up to 1 Cr for real-time On-Us (same banks) payments and up to 20 Cr for non-real time payments.
- Dealers can also initiate NOC related payment from connectips.com or mobile app or CORPORPATEPAY or payment gateway available in NOC’s Dealer’s portal by using valid login credentials of such channels or systems. The transaction limit may vary depending on the channel used.
NCHL’s connectIPS system is currently enrolled by over 54 member BFIs as single payments platform for payment processor (gateway), fund transfer and biller payments. Its NCHL-IPS system and CORPORATEPAY system are enrolled by over 62 and 30 BFIs, respectively. NCHL has been facilitating the Government of Nepal institutions, enterprises and other businesses for enabling digital payments.
Nepal Oil Corporation Limited (NOC) is a state owned trading enterprise in Nepal that solely imports, stores and distributes various petroleum products in the country. It was established in 1970 by the Government of Nepal. NOC has successfully implemented SAP system that took over a year for project management and installation, which is expected to transform the management and governance at NOC.