Electronic Cheque Clearing (ECC)
ECC is an image-based, cost-effective, MICR cheque processing & settlement solution where an original paper cheque is converted into an image for electronic processing of the financial transactions between participating member Banks/FIs. The physical movement of the cheques are truncated or stopped at the presenting bank and the cheques' images are electronically moved between the presenting and paying banks resulting in a faster and easier processing of the cheque transactions.
Interbank Payment System (IPS)
IPS is a system to safely and efficiently tranfer funds from one account to any other account held at any of the participating member banks & financial institutions (BFIs). It supports account to account payments (Direct Credit) and collection (Direct Debit) related transactions. The underlying transaction could be for various pruposes defined as products.
connectIPS e-Payment is a single electronic platform for the bank customers to initiate their payment transactions directly from the bank accounts. It works as a payment processor for creditor/ merchant payments and supports account to account fund transfers.
* ECC, IPS & connectIPS e-payment are products from Nepal Clearing House Ltd. (NCHL)