SCT, Lumbini Bikas Bank sign agreement for inter-bank payment services

KATHMANDU: Smart Choice Technologies (SCT), a payment system operator licensed by Nepal Rastra Bank (NRB), has entered into an agreement with Lumbini Bikas Bank, a ‘B’ category bank under NRB, to facilitate inter-bank payment services via Smart Pay and QR payment services through Smart QR.

Under the agreement, customers, agents, and users of Lumbini Bikas Bank will be able to receive funds instantly from both domestic and international sources through the Smart Pay service directly into their bank accounts. Additionally, businesses and merchants with accounts at Lumbini Bikas Bank will be able to accept payments via various mobile banking platforms and digital wallets through Smart QR.

The agreement was signed at an event held at Lumbini Bikas Bank’s office. SCT Chief Executive Officer Manoj Ghimire and Lumbini Bikas Bank’s Deputy Chief Executive Officer and Chief Operating Officer, Umesh Regmi, formalised the partnership for the operation of Smart QR and Smart Pay services.