Friday, November 19, 2021
    Tech and AutoFintechBetween the middle of July and the middle of October, the NCHL...

    Between the middle of July and the middle of October, the NCHL processed over Rs 4 trillion in digital payments.

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    During the first three months of the current fiscal year, the Nepal Clearing House Limited (NCHL) payments totaling Rs 4,120 billion that were made through various online platforms.

    When comparing the same of the previous fiscal the same this year, the company claims that the transaction volume recorded between mid-July and mid-October this year was doubled. Over 17.1 million units of online trading were completed by the NCHL during the review period of this year, resulting in the settlement of the aforementioned sum.

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    to the Nepal Rastra Bank’s records, the increase in digital transactions began primarily as a result of the outbreak of the COVID-19 pandemic last year (NRB). Along e-commerce platforms, many government offices have also begun to transition their payment systems away from the traditional cash-based mode and toward online methods of collection.

    NCHL reported that it cleared transactions worth Rs 2,890 billion in exchange for more than 4.15 million units of bank cheques through the Electronic Cheque Clearing System (ECCS) (ECC). Similarly, more than 3.28 million units of payments were processed through the NCHL-IPS platform, resulting in a transaction volume of approximately Rs 550 billion. Similar to this, payments totaling Rs 690 billion were made through 9.74 million units of transactions through Connect IPS, which were by the Clearing House Limited (NCHL) during the study period.

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