Over 20,000 businesses enrolled in CORPORATEPAY

KATHMANDU: CORPORATEPAY, as a business payments platform, has surpassed 20,000 institutional enrollments, marking a significant milestone in the digital transformation of business transactions in Nepal.

It has processed transactions equivalent to NRs 714 Billion in the first 8 months of this fiscal year, compared to NRs. 800+ Billion in the entire year of the last fiscal year.

This achievement highlights the increasing adoption of digital channels by the SMEs and MSMEs to streamline their financial transactions.

CORPORATEPAY has witnessed remarkable growth in its user base, driven by its comprehensive and multi-banking digital payment & financial services.

The platform is currently utilized by a diverse range of institutions, including small & medium businesses, government & non-government entities, and financial organizations. It supports seamless fund transfers, government revenue and salary payments,
contributions to Employee Provident Fund (EPF), Citizen Investment Trust (CIT), Social Security Fund (SSF), vendor and service payments, as well as bulk transactions for utility and creditor settlements.

The platform allows to manage multiple bank accounts with necessary operating mandates for payments, fund & receivable management and other banking services. The transaction limit in the system for real-time through retail payment switch (RPS) and non-real time through NCHL-IPS are NRs 1 Crore (same bank), NRs 20 lakh (different banks) in RPS and up to NRs 20Cr in NCHL-IPS.

Business enterprises can initiate an online registration process from corporatepay.connectips.com with its company details, assign hierarchical roles of the users and select bank account details to complete one-time online registration process.

After the respective bank approves the registration, based on the documents submitted or available with the bank, the activation process will be completed.

The enterprise may also contact its bank for manual enrollment.