KATHMANDU: Nepal Association of Tour and 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 bank accounts.

The MoU was signed by CN Pandey, president of NATTA and Neelesh Man Singh Pradhan, CEO of NCHL, as per a media release. 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, customers can make online payments regarding the various tour packages or travel tickets purchased by them through connectIPS 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 transactions directly from bank accounts and customers will also equally benefit from this service.