November 2: Manjushree Finance Limited has subscribed to the connectIPS e-Payment System run by Nepal Clearing House Ltd. (NCHL) from Thursday, November 1. With this, the customers of Manjushree Finance will be able to initiate payment transaction up to Rs 100,000 through www.connectips.com and up to Rs 5,000 through mobile application.

According to NCHL, the customers can enroll and link their bank accounts(s) with one-time verification from their respective banks, after which they can use the payment services including fund transfer, online payment and creditor/biller payment.

Currently the services related to online fund transfer, government revenue payment, credit card bill payment, mobile wallet top-up and share broker payment are available through online (web) version and mobile application, reads a press statement issued by NCHL. All such transactions are processed directly from the bank accounts and do not require any intermediary.

The online payment system has been subscribed by 44 banks and financial institutions among which 33 are now in operation.