Agreement for Cashless Payment System between Prabhu Bank Ltd. and Byabasaya Public Ltd.
An agreement has been reached between Prabhu Bank Ltd. and Byabasaya Public Ltd. This agreement will allow taxi drivers affiliated with Gandaki Taxi Business Pvt. Ltd. to easily withdraw money from their Prabhu Bank accounts, access complete account information through the mobile application, make transfers and payments through various banks/financial institutions and other gateways to pay fees and charges.
This agreement aims to integrate public transportation payments into the electronic payment system. The agreement signing ceremony was officiated by Prabhu Bank's Chief Business Center Officer, Gandaki Province Shanti Sherchan. The agreement was signed by Raju Rana Magar, Chief Provincial Officer of Prabhu Bank Ltd., Gandaki Province, and Gandharaj Giri, Chairman of Byabasaya Public Ltd. Representatives from PhonePe were also present at the event.
Most importantly, this partnership allows passengers to conveniently pay taxi fares using QR codes provided by Prabhu Bank through taxi drivers. The bank has already provided QR codes, debit cards, and digital awareness materials to over 150 taxi drivers associated with Byabasaya Public Ltd. They plan to distribute these materials to an additional 350 drivers in the near future.
During the program, the bank presented a nearly one-hour informational video for taxi drivers. The video covered the operation, benefits, transfers, and risk mitigation methods associated with QR codes, debit cards, and other digital products. Prabhu Bank believes that both passengers and taxi operators in Pokhara, the tourist capital, will benefit from this electronic payment system in public transportation.
