Thamel Remit Pvt. Ltd., a Nepal Rastra Bank-licensed remit company has recently become a member of Nepal Clearing House Limted (NCHL) and has started integrating its National Payment Switch (NPS) as the domestic rail for instant remittances.
This membership enables remittance senders from the USA to directly send money to Nepal in just a few seconds.
Excited about the integration of National Payment Switch in Thamel Remit, Bal K. Joshi, Co-founder of Thamel Remit shares,
This is an important step toward digital remittance because it is the first time of its kind that the National Automated Clearing House Association (NACHA) of the USA has been indirectly integrated with Nepal Payment Interface (NPI) via a remittance provider (Thamel Remit).
The NCHL-IPS and Retail Payment Switch’s underlying technologies handle the processing of all of these transactions (connectIPS). For direct bank account-based remittance, it also has access to a large network of over 59 BFIs.
NPI is a consolidated interface for interconnection that is part of the National Payment Switch (NPS) and is run by NCHL. It has access to both real-time (RPS/connectIPS) and non-real-time batch (NCHL-IPS) payment systems. It includes 73 non-bank institutions in addition to over 59 BFIs. Currently, 13 remittance businesses are using the domestic rail of NCHL’s payment systems for local disbursements through their own settlement banks.
About Thamel Remit
Thamel Remit, one of the pioneering remittance organizations in Nepal, was established in 2013 with the primary purpose of facilitating money transfers from the USA to Nepal.
Serving over 50,000 Nepali people in the USA to send money back to Nepal, Thamel Remit has been the most preferred one for sending remittances these days.
And with its integration with NCHL’s National Payment Switch, sending remittances is just a few clicks away. If you are a Nepali living in the US, you can now easily send remittance to Nepal via Thamel Remit, using the connectIPS system from NCHL.