KATHMANDU, Sept 21: NEPALPAY Instant has announced a free fund transfer scheme for the upcoming festive season in order to  encourage digital transactions.

A statement issued by the company says that mobile banking users of selected banks enabled with NEPALPAY Instant as well as connectIPS users can enjoy free fund transfers to bank accounts of 26 BFIs and to primary accounts of connectIPS users until October 16 this year.

The statement added that NEPALPAY Instant is a proxy-based direct credit system that allows fund transfers using the beneficiary's virtual payment address (VPA), which is their mobile number. This service is currently available through the mobile banking platforms of Sanima Bank, Global IME Bank, Nepal SBI Bank, Agriculture Development Bank, Garima Bikas Bank, and Shangri-La Development Bank, as well as connectIPS.

 
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