Technology firm Nuspay International has unveiled the first near field communication (NFC) tap & pay payment card in Nepal.
The new electronic multi-use Nuspay NFC payment card has been developed in collaboration with Nepal Bank and Nepal’s public transportation bus system Sajha Yatayat.
The card has been designed to mitigate fraud in travellers’ payments as well as help commuters on Sajha Yatayat buses pay for their journey through the Nuspay co-branded Sajha Yatayat Smart Travel Card.
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Nuspay CEO Greg Wooten said: "Nuspay will act as both payment network and processor, becoming a unified payment technology platform in Nepal. This will provide a single point of service to access its payment solutions across the entire payment processing value chain between financial institutions, merchants, and customers."
Sajha Yatayat chairman Kanak Mani Dixit added: "This partnership to launch our multi-purpose NFC-based payment system will have a substantial impact on both commuters and bus conductors for increasing convenience and offering complete security against risk of financial leakages simultaneously.
"The fare amount will be charged on the basis of the travelled distance while tracking the entry and exit of the passengers through the Smart Travel Card solution."
