NMB Bank signs MoU with nCloud Pvt Limited

NMB MoU with nCloud

3rd August 2020, Kathmandu

With the COVID pandemic still around, NMB Bank signs MoU with nCloud Private Limited to promote digital payment channels in the transport sector.

From the NMB Bank, the bank’s CEO, Sunil KC signed the agreement. Similarly,  Dipendra Narayan Shrestha, the CEO of nCloud Pvt Limited signed the MoU.

The agreement will implement a digital payment system on public transport. This means the public vehicles will implement contactless cards and POS terminals. Hence, this will assure the reduction of the transmission rate of coronavirus.

The project will initially tie up with Kipu Bus Service Pvt. Ltd. Here, the passengers will be able to use contactless cards for paying the bus fare.

This agreement has taken place considering the COVID pandemic still around us.

The project focuses on digitization as directed by Nepal Rastra Bank. Ultimately, it aims to transform society from cash to cashless.

Furthermore, the bank aims to start cooperation with other bus operators soon.

What are your views on this? Do you have better suggestions regarding this agreement? Do let us know in the comments.

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