24th August 2020, Kathmandu
With every sector going digital, the banking sector is also not far behind. With the aim of promoting cashless transactions, Siddhartha bank signs an MOU with 360 transport solutions on 22nd August 2020.
Siddhartha Bank has taken the decision to promote an international level digital payment system in the public transport sector.
The MOU was signed by Suresh Raj Maharjan, Assistant General Manager of Siddhartha Bank and Khushal Regmi, Chief Executive Officer of 360 Transport Solutions.
This step taken by the bank aligns with Nepal Rastra Bank’s directives regarding digitization. Firstly, This will definitely promote cashless transactions. Secondly, it will create a hassle-free payment environment for the general public.
How will the payment work?
After the agreement, every vehicle under 360 transport solutions will have a POS machine of Siddhartha Bank. So, the passengers can purchase a Smart Prepaid card and make the payment easily.
The card will be available in any branches of the bank and even the public vehicles will provide the card.
This is another step towards promoting digitization in the country. Therefore, we as customers should welcome such initiatives. Apart from this, Siddhartha Bank has recently donated a huge amount for Corona Relief Fund.
Meanwhile, how do view such initiatives taken by the banking sector in recent times? Let us know in the comments.