Leading payment gateway ConnectIPS increases transaction limit to its users to provide convenience for lockdown.
ConnectIPS, a prominent payment gateway, has revised its transaction limits to facilitate a higher amount of transactions during the period of lockdown.
As most parts of the country are in lockdown, digital transactions have become the preferred medium for bill payment, funds transfers, and any other financial activities. As online payment gateways provide the facility of payment from home, their relevancy has tremendously grown since last year’s lockdown.
Check out: ConnectIPS Review: Seamlessly elevating the digital banking transactions in Nepal
Due to COVID-19 caused of lockdown, ConnectIPS has also seen its number of users grow multifold during the said period, and to serve their customers better, they have introduced an upgraded transaction limit effective at least during the lockdown.
ConnectIPS Transaction Limit
ConnectIPS’s transaction limit has been a barrier to many and realizing the inconvenience it has caused during the pandemic, Nepal Clearing House Ltd. its parent company has increased the transaction limits for its customers.
Read: Nepal Clearing House Ltd. Developing National Payment Switch For Inter-Wallet Transaction
The latest revised transaction limit is effective on both the web and mobile applications.
On the web, you can perform the transaction of up to NRs. 20 lakhs on a single day. Meanwhile, you are allowed a maximum of 2 lakhs transaction on its mobile application.
|ConnectIPS Platform||Transaction limit||Single session limit|
|Web||NRs. 20 lakhs||NRs. 10 lakhs|
|Mobile application||NRs. 2 lakhs||NRs. 1 lakh|
Breaking down it further, the revised policy lets you make the transaction of up to NRs. 10 lakhs on a single session on the web while on the mobile application it is increased to NRs. 1 lakh.
Besides banking, Nepal Clearing House Ltd. has increased the transaction cap on other financial sectors too. Now the limit for the stock market, broker, and capital market has been raised to NRs. 1 crore per day as well.
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Are you a user of ConnectIPS? How frequently do you use it for transactions? You can share your opinion on how these revised transactions limit will help you in our comments section below.