Within the Kathmandu Metropolitan Area, you can now pay taxes through the Connect IPS system.
It will soon be possible for taxpayers in the Kathmandu valley to pay wealth tax, land tax, rent, and other taxes via the internet.
A tax payment portal operated by Nepal Metropolitan has been connected with IPS Connect by Nabil Bank to enable the establishment of a digital payment service. Residents of the valley will benefit from the ability to pay taxes for a variety of services at their convenience through the use of the web-based payment system.
The service provides assistance to individuals (Nabil Bank account holders) who prefer not to deal with cash and prefer to avoid personal interaction. As a result of the COVID-19, every bank and financial institution in Nepal, as well as every consumer, wants to be a part of this transformation.
The public will no longer be required to wait in large lines, putting their safety and well-being at risk from the possibility of COVID-19 infection.
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They will need to go to their local ward office and provide their mobile number and email address for verification before they can begin utilizing IPS Connect to pay their taxes. After that, users must obtain their username and password by visiting this page. Following that, they will be able to do online transactions for land, rent, trade, and other taxes using IPS Connect in conjunction with their Nabil bank account.
The Use of Digital Payments Is Growing
In Nepal, the trend toward digital payment is gaining momentum, and each bank and financial institution is making an impression with its own set of products and services. The competition to provide better digital services has resulted in significant benefits for consumers.
A QR code-based payment service was recently launched at the Chabahil vegetable and fruit market. Consumers at the well-known market site can now pay with their credit cards, according to a new service launched by Sunrise Bank. In addition, the bank has provided free WiFi in order to encourage people to switch to online payment.
Meanwhile, NIC Asia, in conjunction with iPay, created a digital remittance service to assist Nepalese living overseas in transferring money through a mobile application. Users of the iPay service in countries such as Malaysia, Japan, Hong Kong, New Zealand, South Korea, the United States, the United Kingdom, and the Middle East will be able to send money back to their friends and relatives in Nepal through the service.
The digital payment system is on the increase, with each month marking a new milestone in its development. Recently, FonePay, a QR-based payment processor, broke the world record for the number of transactions processed in a single day by processing one billion transactions. This is a testament to Nepal’s progress in the digital payment space.
Check out the list of the top 5 digital wallets in Nepal, which has been updated (2021)
The ability to pay utility bills, shop, or dine in restaurants, among other things, has made online payment a popular method of payment in Nepal, particularly among young people. Given the rate at which it is spreading, cashless payment will soon become the preferred means of payment for the vast majority of smartphone users.
Which digital payment method is your preferred method? Please tell us what distinguishes us from the competition.