July 18, 2017
In a move revolutionizing the Nepali eCommerce sector, reputed banks are coming up with their services to boost online shopping in the country.
Marking the first-of-its-kind service in Nepal, Nabil Bank and Himalayan Bank are introducing new platforms that would allow the country’s credit and debit card holders to purchase goods and services from online stores based in Nepal.
The two banks have already installed systems, certified by the reputed payment technology companies, such as Visa and Mastercard, to support online trading across the country and have started sample tests on the same.
Both the banks are gearing up to launch their services in a month’s time. While Nabil Bank is planning it in a month, the Himalayan bank plans to make it much sooner i.e. in next ten days.
The Nepali eCommerce sector is currently limited to local-made e-Sewa services and internet banking platforms. The new services will allow Nepalese to make online purchases from all the websites that are integrated with these two banks.
The new services are expected to support the enterprises based in Nepal in attracting businesses from foreign destinations. Now, the domestic companies need not pay commissions to mediators to attract business and can simply link their websites to the payment gateways of local banks to trade online.
The two banks confirmed that their services will use security protocols developed by renowned companies, such as Visa and Mastercard, to ensure safe and secure transactions.
Electronic cardholder of any bank can use these services for online trading and open store purchases. However, cards should be of Visa, Mastercard or Union Pay International in case of Nabil Bank services. Whereas, Himalayan Bank services accepts Visa, Mastercard, Union Pay International, and American Express or JCB cards.