Kathmandu. Infinity Microfinance has started digital transactions by pairing NCHL’s Nepal Payment Interface with its internal system. With this, Infinity Microfinance has become the first microfinance to make loan payments through its system through NPI.
Infinity Microfinance will now be able to conduct various collection transactions including savings deposits, loan installment payments, etc. through NCHL IPS and RPS systems. In addition, it will be able to conduct various payment-related transactions including salary, vendor payments, loan disbursement, government revenue, social security fund, citizen investment fund payments, etc. directly to its and its beneficiaries’ bank accounts. Infinity Microfinance will also be able to easily centralize the funds in the bank accounts of its branches through NPI.
Developed on the concept of Open API as an integrated interface for various payment systems of NCHL, LEX currently has 53 member bank financial institutions affiliated with it, while more than 100 non-banking institutions including other PSPs/PSOs, remittance companies, 11 microfinance, merchant banks, government and semi-government institutions are affiliated as indirect/technical members. Through this, member institutions will be able to use NCHL-IPS / RPS systems.
Infinity Laghubitta, established in 2073, has been providing savings deposit collection and loan repayment, remittance and micro insurance services to low-income families in Nepal. Infinity has spread its lending model through its collective network, covering 96 branches in 48 districts of Nepal and covering more than 100,000 households. Infinity has been providing quality financial services along with technical support to various stakeholders.
