NCHL Launches XUNO's Cross Border Request to Pay Feature on connectIPS

Nepal Clearing House Limited (NCHL), under Nepal's Central Bank and financial institutions' guidance, announced the launch of the XUNO cross-border Request to Pay (r2px) feature. This integration, a first in the national payment infrastructure, enables real-time requests and receipts of payments between Nepal and the US through connectIPS. It marks the first time sending and receiving banks in the US and Nepal are directly connected, fostering a borderless economy.

Neelesh Man Singh Pradhan, NCHL's CEO, highlighted the innovation in overcoming the real-time communication barrier between international banks. This initiative aims to reduce friction and enable a more active role for beneficiaries in the global economy. XUNO's reverse remittance feature through r2px allows Nepali beneficiaries to request payments from a US-based payer directly, addressing issues of compliance, cost, customer experience, and security.

Founder of XUNO, Bal Krishna Joshi, commends NCHL for their forward-thinking approach in modernizing cross-border payments, transitioning from outdated methods to a seamless, borderless economy. r2px's launch tackles longstanding issues by ensuring compliance, lowering transaction costs through direct communication, streamlining payment requests, and enhancing security with robust encryption and authentication measures.