KATHMANDU, Dec 24: Sunrise Bank has introduced Co-branded Visa Debit Card to the members of co-operatives, with the aim to add a new dimension on digital payment area, supporting Nepal Government and Nepal Rastra Bank’s aim to spread Digital Banking to the general public.
According to a statement issued by the bank, such cards shall be directly linked with the cardholder’s account maintained at the respective cooperative, due to which the reach of digital payment instruments shall extend to the unbanked people.
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The bank has worked together with Pioneer Associates Pvt. Ltd, I-mark Pvt. Ltd and Nepal Electronic Payment System (NEPS). In the first phase, an agreement has been made with five co-operatives to issue co-branded Visa debit cards and a number of cooperatives are in the pipeline to be associated with the bank under this project.
The project will further increase the reach of marginalized people in banking services which in return will make a positive impact on the economy due the increase of digital transactions and transparency in the transactions, according to the statement.
