Hamro Bikas Bank joins connectIPS e-Payment System

August 9: Hamro Bikas Bank Ltd has been associated with the connectIPS e-Payment System from August 8. With this, the customers of the bank will be able to enroll themselves in the system and initiate online payment transactions through connectIPS system.

According to the bank, connectIPS is a standardized single payment platform in which the customers can enroll and link their bank account(s) with one time verification from their respective banks, after which they can use the payment services including fund transfer, online payments and bill payments. The bank said in a statement that all such transactions are processed directly from the bank accounts and does not require any intermediary.

The service is now available for the customers from www.connectips.com for tax revenue payment to Government of Nepal. The bank said that it is in the process of extending the service for other payments. connectIPS e-Payment System has already been subscribed by 32 banks and financial institutions among which 20 are already in operation.