NEPALPAY Instant (Interoperable VPA based Transaction)

Powered by the Retail Payment Switch under the National Payment Switch, the NEPALPAY Instant is the additional feature enabled in NPI through connectIPS to support VPA based transactions between the participating members.


One can now initiate an inter-network Virtual Private Address (VPA) based fund transfer. The VPA is a unique identifier that can be a mobile number, e-mail address or username mapped to member Bank/Financial Institutions, Payment System provider (PSPs) or connectIPS users.


The sender (payer) can initiate transaction from the NEPALPAY Instant, NPI enables the transactions, corresponding to which the fund transfer instruction will be initiated to the respective receiver based on the provided VPA. The service is currently available for the connectIPS users though the connectIPS web interface and soon will be extended to other channels as well.


How to initiate transaction in NEPALPAY Instant:


  • Login into using your Username and Password
  • Choose NEPALPAY Instant from the available options under Fund Transfer
  • Select your debiting account and select the Network/Bank under receiver details
  • Fill in other details and click on Transfer
  • Recheck the details and click on “Make Payment”
  • Use your Transaction Password and/or OTP received in registered mobile number and e-mail
  • Click on Submit to complete the fund transfer


Transaction Amount Slab based Fee Structure for general customers of BFIs and PSPs is as follows:  


Transaction Amount (NRs.)

Transaction Fee ( NRs.)


Upto 500



Above 500 – 5,000



Above 5,000



The charges are applicable while initiating fund transfer from connectIPS web, mobile app, member bank/financial institutions’ alternate channels of mobile & internet banking, Cash In /Out in various member wallets (PSPs) and various service payments where end customer has to pay. Government of Nepal’s Inland Revenue tax payment is already cross-subsidized at NRs 2-5. Refer < connectIPS Fees and Charges> for details.


What is the transaction limit in connectIPS?  


Web Channel

Mobile Channel

Maximum amount per transaction

NRs. 10,00,000

NRs. 1,00,000

Transaction Per Day Count



Maximum transaction amount per day

NRs. 20,00,000

NRs. 2,00,000


*Limit is per user per bank
*Respective banks and financial institutions may have different limits as per their internal policy
*Limit may change with /without notice as per Nepal Rastra Bank directive