According to the statistics prepared by Sakchyam Access to Finance for the Poor Programme, the number of Point of Sale (POS) systems has reached more than 12 thousand, reports Annapurna Post.
The Details:
- According to Anil Keshari Shah, Deputy Chairman of Banker Association and Deputy CEO of Nabil Bank, the POS mahine was launched by Grindlays Bank, now known as Standard Chartered Bank. Later on, Alpine Card Services started giving facility of POS system.
- Initially, Alpine joined the POS system in collaboration with the Union Bank of Singapore. After Nepal Standard Chartered Bank started giving cards, Alpine collaborated with Nepal Standard Chartered Bank.
- After Standard Chartered Bank closed the said POS service, Alpine is working with Himalayan Bank to make card payment.
- According to the President of Banker’s Association of Nepal, Gyanendra Dhungana, 28 commercial banks are currently providing debit and credit card services.
Why it matters:
- POS machine is a medium of cashless business. Through this, the customer can make payments through their debit or credit card.
- The number of POS machine has been increasing due to increase in the number of malls, airlines, and various companies that are readily accepting it.
- Increase in POS machines is a reflection of increase in better, faster, industry-relevant transaction services, practices and possibly a move towards digital business.
The Latest
-
Oppo F19 Pro To Launch Soon in Nepal!Oppo F19 Pro is set to launch in India on March 8th via Amazon and…
-
Xiaomi Mi 11 with 108MP Camera, Snapdragon 888 Launching Soon in NepalOn December 28, Xiaomi announced their new flagship for 2021; the Mi 11. And now,…
-
Hero Hunk 150R to Launch Next Week in Nepal: Pricing and Features Revealed!Hero Hunk 150R is coming soon in Nepal. NGM Nepal, the authorized distributor of Hero…