May 21, Kathmandu- Nepal Electronic Payment System (NEPS) is preparing to introduce a new practice in the use of ATM cards. NEPS chief executive officer Sanjiv Subba informed that preparations are being made to make the ATM card virtual.
He said that the obligation to carry ATM card will be removed after this. "We are about to start a new practice so that users do not have to carry plastic ATM cards. For this, preparations are being made to change the ATM card to QR code", he said.
Under this system, users will be able to withdraw money by scanning the QR instead of the card.
He also said that the practice of royalty points in ATM cards is about to start. This service is currently being offered by Standard Chartered Bank on its credit card.
He also said that the practice of royalty points in ATM cards is about to start. This service is currently being offered by Standard Chartered Bank on its credit card.
Under this, the user will get some points for paying with the bank card, which points can be used later as money for other services or payments.
Digital Wallets are currently providing such services. However, he said that now the use of ATM cards will also be facilitated.
This feature is only applicable for users of NEPS member banks.