Machhapuchchhre Bank, Muktinath Bikas Bank join SCT SmartPay network

KATHMANDU: Machhapuchchhre Bank and Muktinath Bikas Bank have joined the SmartPay network of Smart Choice Technologies (SCT). This will allow their customers to access internet banking services and execute fund transfers through the SCT payment switch.

The agreement was finalised during two separate events on July 13. Madhav Subedi, Chief Digital Banking Officer of Machhapuchchhre Bank, and Til Bahadur Gurung, Deputy Chief Executive Officer of Muktinath Bikas Bank, signed the accord on behalf of their respective institutions.

Officials at the signing said the agreement opens a new path for customers to utilise the innovations and state-of-the-art services provided by SCT, and that it will strengthen Nepal’s digital payment system by reinforcing interconnection between banks and financial institutions (BFIs) while delivering more convenient and modern financial services.

SCT, licensed by Nepal Rastra Bank as a payment system operator, is the oldest and most experienced digital payment service provider in the country. Having initiated services with the first domestic card in Nepal, the SCT Card, and the SCT Network, the institution currently provides fund transfer facilities through 24 BFIs and more than 300 co‑operatives. Its offerings include the SCT UnionPay Card, SCT VISA Card, debit and credit cards, ATM network, POS services, SmartQR service and smart banking via omni-channel mobile and internet banking services.