MetLife Nepal Insurance Co. Ltd. has partnered with Nepal Clearing House Ltd. (NCHL) in collaboration with Standard Chartered Bank Nepal Ltd. (SCBNL) to enable digital standing instructions (e-Mandate) feature for the payment of premium by integrating its system with National Payments Interface (NPI) of NCHL. This feature has been enabled for the first time in the Insurance sector of Nepal by MetLife Nepal.
With this arrangement, the customers of MetLife Nepal can make their premium payments in a hassle free-way by subscribing to digital standing instruction-based e-Mandate feature enabled for such payments. This feature allows the direct debit of the customer’s account on the due date of premium payment upon subscription of the feature by the customers. After logging into MetLife Nepal’s portal, the customer will enter the required mandate information (payment frequency and amount) and upon submission, the feature is enabled.
e-Mandate based payments support the payments of regular or recurring/periodic nature. The customers can subscribe to this feature and be rest assured that such payments are done digitally on due dates. With this the customer does not need to initiate such payments each time.
Anirvan Ghosh Dastidar, CEO Standard Chartered Bank Nepal Ltd. (SCBNL) shared, ‘This is a great example of collaboration between Metlife, NCHL and SCBNL. We are confident that this product and capability will transform the premium collection process for the insurance and banking industry.’