- DEBIT Card
- Remittance Card
- Prepaid / Multi-utility Card
- Credit Card
The Company is planning to issue its own proprietary Debit Cards to various Financial Institutes from Nepal. This service will be made available to all parts of Nepal where the connectivity is available. The major focus of the company will be to target those financial institutions that have not yet come to EFT – Electronic Financial Transaction domains. This will we strongly believe will boost the financial accessibility to the customers who are burdened from this easy and comfort opportunity. Further, these financial institutes will be empowered with the POS and mPOS devices so that they themselves can act as a HUMAN ATM through whom; the entire EFT can be performed. This will help to achieve the wider reachability even in remote locations of the country.
Considering the security aspects and adaptation to the latest technology, the company will be issuing the EMV Compatible Chip Cards from the day first. This will guarantee the secured transactions.
This Card will be launched as a co-brand for the PMT - PRABHU Money Transfer, first of its kind in Nepalese market. The main idea behind this is to issue a Remittance Card to all the Nepalese who are working or going abroad. Each member can hold multiple cards - Primary and Secondary. For better recognition and authentication, this Card will contain a PHOTO of the card holder. This Remittance Card can be obtained from different PMT National and International offices, counters and agents before the departure from the country or already in the foreign country.
Remittance Cards holders, can remit the money directly to their respective cards without any problem. The entire process will fully ONLINE. Once it is topped up, a confirmation SMS will be send to both sender and receiver. This topped up balance money can be withdrawn fully or partially from many delivery outlets like PMT Agents; member banks ATMs and mPOS / POS. For these remaining credit balances, PMT will be issuing cash incentives in the form of Gift Vouchers, Bonuses etc.
The company and PMT feel that this direct Remittance Card money top-up mechanism will help
- To enhance financial reach to unbanked people and bring them to the proper financial domain
- To ensure the confidentiality of own / family financial positions as it will be secure since no third party is involved during the entire transaction flow.
- To enrich the saving habits of the people as there is an incentive schemes for the Credit Balances.
The main purposes of the cards are to full fill a different need and demand of the people. These cards can be branded with anything from festivals to seasons, students to employees, parking to taxi fees etc. These prepaid cards can be used for domestic remittances as well. On top of this, this card can be used for the Telco Talk time top-ups, utility payments like electricity, water, internet, satellite / cable TVs, school fees, buying air tickets, movie tickets etc. Further, these cards will be targeted to be used in ONLINE Internet Shopping. As ONLINE shopping is getting bigger, better and cheaper, people will be more interested to buy ONLINE rather than physical shopping. This saves time and money which is itself a crucial part of the human life.The main objective behind this is to make it more safer mobility in terms of financial aspects.
A Credit Card allows a cardholder to pay for goods and services based on the holder's promise to pay for them and as per the agreed terms and conditions with the Bank. In Nepal, the demand for the Credit Card is getting popular day by day. Though Banks wants to launch this Service, the volume of card holders is very low as compared to the initial high cost infrastructure investment; many Banks have held the credit card issuance decision. Considering this, PT is launching Credit Card Model as one of its prime product in a hosted / CLOUD model. This will benefit the Banks for the issuance of much awaited Credit Card services. This is yet another milestone that PT is bringing to the Nepalese market.