8th February 2023, Kathmandu
Nepal Investment Mega Bank partners with NCHL and Citytech to enable its finPOS with NEPALPAY TAP and NEPALPAY QR for merchant payments. Customers can now make a payment by just tapping NFC-enabled mobile onto finPOS devices at merchants.
The customer will no longer require to connect to the internet for such payment with NEPALPAY TAP.
Similarly, dynamic NEPALPAY QR has also been enabled by NIMB at its finPOS available at their merchants. Any of the mobile banking, wallets, and connect-IPS can be used for QR payment available in such finPOS. The service was started as the first in Nepal by NIMB.
NEPALPAY TAP is based on NFC technology that enables secure transactions between two devices in close proximity. It can be used for P2P and P2M payments as contactless transactions The sender does not require internet in its device for such NFC payment.
With this, it is now no longer required for customers to use a card for POS transactions, rather they can just tap the device and make payment, currently available through connect-IPS mobile app. The payer’s mobile needs to have NFC-enabled phones to use this feature. Currently, the transaction limit of NEPALPAY TAP is up to Rs 5,000 per transaction and can be controlled by the customer itself.
Citytech has been providing finPOS as an all-in-one POS machine for various banks, that is safe, secure, and interactive for the merchants to keep track of all business transactions. With the addition of NEPALPAY TAP & NEPALPAY QR, it will provide the banks to enable its merchants with an additional option to accept payments.
NIMB is one of the prominent banks in Nepal which has recently been aggressive in providing its services to customers through digital channels.
It has over 9 Lakh of mobile banking users, 7 Lakh cards issued and 278 ATMs, and over 4000 POS. The bank will be able to service its ever-growing merchants with the addition of QR and NFC-based payments.