Nepal Breaking NewsFintechFor the First Time in Nepal, NIC Asia Bank Launches "Fast Pay"...

For the First Time in Nepal, NIC Asia Bank Launches “Fast Pay” Service to Support SME Owners

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For the first time in the Nepalese banking sector, NIC Asia Bank has launched the “Quick Pay” service, which allows sellers to collect payment quickly by simply sending a payment connection to the buyer. When the buyer simply clicks on that connection, the payment is driven.

The bank has launched this service to provide a hassle-free payment system for entrepreneurs in the fields of hospitality, travel / tours, telemedicine, online education, and small and medium enterprises. Just keep in mind how you joined the Zoom or Google meet a connection! It’s as simple as that.

Entrepreneurs who want to use this bank’s “Fast Pay” service can go to the nearest branch and fill out a form. The bank will then provide them with a website to submit payment links to their customers.

What the NIC Asia Fast Pay Service entail?

Customers may use this app to make fast payments, as the name suggests. Customers can make payments through card, mobile banking, and internet banking from any location and at any time by clicking on the connection received on their laptop, tablet, or smartphone. E-commerce businesses that are not associated with the online payment service can payments through ‘Quick Pay,’ and even offline businesses can adapt to this medium and opt for digital transactions. Merchants can send payment links to their customers via email, SMS, or media messaging apps using this platform.

Mr Arjun Raj Khaniya, the bank’s Deputy Chief Information Officer, believes that this “Fast Pay” service can play a significant role in advancing digital business by serving as a dynamic bridge between online and offline payments.

NIC Asia Bank’s History

NIC Asia Bank has left no stone unturned in its path of rigorous banking sector since merging with Bank of Asia in 2013. The bank now has the world’s largest banking , with 352 branch offices, 471 ATMs, 75 expanded counters, and 80 branchless banking services spread throughout the country. With more than 2.2 million customers and led by one of Nepal’s most innovative bankers, Mr Roshan Kumar Neupane, this bank is gaining ground in major financial metrics, which is very encouraging. Furthermore, by extending its branches, it has been able to operate in less remote districts and over 34 local governments where no bank or financial institution previously existed. NIC Asia’s commitment to financial inclusion has made it more than a friend to its customers.

Conclusion

The bank is already offering digital transactions through card-based online payment gateway Cybersource, NIC ASIA MoBank, and other online payments, so the launch of this Fast Pay service will help promote digital payments in the region. The bank anticipates that the Quick Pay service be extremely safe and reliable, as digital transactions rather than cash transactions are preferred in order to the spread of the coronavirus, which is currently sweeping the world.

What are your thoughts on NIC Asia Bank’s latest product? Would you use this service if you had a small business? Please leave your valuable feedback in the box below. Please stay with us for more details.

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