GAINDAKOT, NAWALPARASI: VYCCU Savings and Credit Co-operative Ltd has launched Point of Sale (POS) machine — an electronic payment technology. This is the first time the financial cooperative in Nepal has launched a POS machine.
Minister of Agriculture and Land Management of Gandaki Province, Mahendra Dhwaj GC unveiled the machine on Tuesday.
With the inauguration of the POS machine, payment can be made using the ATM card of any bank and financial institution, said Madhav Prasad Paudel, Chief Officer of VYCCU Savings and Credit Co-operative.
At a function held at Amrapuri to mark the 33rd anniversary of the cooperatives, a POS machine was handed over to KISSAN Mart run by Vijayashree Consumer Cooperatives.
The POS machine is based on wireless WiFi technology. The POS machine will be gradually expanded to other commercial and professional establishments.
A member of VYCCU Savings and Credit Co-operative, Minister for Agriculture and Land Management GC said the institution was able to achieve this milestone due to competent leadership, clear goals and good governance.
VYCCU Chairperson Om Prasad Sapkota said that the savings and credit cooperatives will now work in the field of social transformation as per the business plan of the organisation.
At the programme, the outgoing Chairperson Keshav Prasad Sapkota, former Chairperson Indraraj Jyoti Paudel, Narayan Sapkota, and coordinator of the Audit Supervision Committee Kamal Subedi expressed their views about the cooperatives while extending best wishes for the future.
The programme was attended by people's representatives, representatives of Vijay family member organisations, founders of VYCCU, executive committee, sub-committee officials, shareholders and the general public.
Founded in 1991, VYCCU has been providing financial and non-financial services to about 130,000 members in Chitwan and Nawalparasi through its 24 service centres. There are currently 111,290 members of the organisation with 49.98% female members.
