Kathmandu. Nepal Clearing House Limited (NCHL) has launched CORPORTEPAY system for business customers of banks and financial institutions by organizing an online program on Friday.

The company said that the corporate system is a payment platform provided for easy digital payments for business customers of banks and financial institutions. With the introduction of this system, business entities will now be able to make digital payments using alternative channels instead of cash or checks. These payments will be in real-time via connectI PS and in real-time via NCHL-IPS.

Through this system, funds related to interbank and bank transfer, salary payment, vendor payment, revenue payment of Government of Nepal, contribution payment of social security fund, employee provident fund, payment of citizen investment fund and various other services can be easily made.

In order to avail the COPORATEPAY service, the business customer has to contact his bank and get the approval once. After this, the customer's users can make any payments within the specified limit transactions without the direct involvement of the bank. However, in order to transact more than that limit, the bank is going to process the check after additional check. There is also a provision to link more than one bank account in the system as per the requirement of the customer and make transactions with secure system of multi-layer authentication.