NATTA and NCHL Signs MoU Automating Payment

NATTA and NCHL Signs MoU Automating Payment

June 16, 2019, 8:16 a.m.

Nepal Clearing House to support Nepal Association of Tour & Travel Agents (NATTA) for payment automation of its member agents

Nepal Association of Tour & Travel Agents (NATTA) and Nepal Clearing House Ltd. (NCHL) have signed a Memorandum of Understanding (MoU) for automating the former's payment processes directly through the bank accounts. The MoU was signed by C.N. Pandey, President of NATTA and Neelesh Man Singh Pradhan, CEO of NCHL.

As per the MoU, the systems of the member agents of NATTA will be integrated with NCHL’s payment systems, namely NCHL-IPS and connectIPS e-Payment systems through which all the payment transactions will be processed.

With this, the transactions related to their disbursements and payments will be automatically credited into the respective beneficiary accounts held at any of the 76 banks and financial institutions (BFIs). Similarly, the customers can make online payments regarding the various tour packages or travel tickets purchased by them through connect IPS or from the branches of any of the BFIs.

This partnership between NATTA and NCHL will largely facilitate the numerous travel and tour agents of the country by providing them a digital platform for processing their transaction directly from the bank accounts and the customers will also equally benefit from this service.

NATTA is an umbrella association in Nepal, established fifty-one years ago, in order to accommodate around seven hundred travel agents and tour operators across the nation and to stand tall and firm with its distinct image in the Nepalese tourism landscape.

NCHL is promoted by Nepal Rastra Bank and banks & financial institutions to establish multiple national payments infrastructures of which it has been operating NCHL-ECC, NCHL-IPS and connect IPS e-payment systems with participation from most of the BFIs.

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