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Nabil Bank launches NFC enabled contact less cards

By Our Reporter
Nabil Bank has been providing secured and convenient way of payment to its customers through EMV (Chip) based card and acquiring platform, along with 3D Secure enabled e-commerce (online shopping) services.
Set by one of the Bank’s values “being innovative”, it has launched contactless (NFC – Near Field Communication) based payment. The contactless payment through the Bank cards and POS terminals is the first time in the country. This is a milestone not only in the history of Nabil Bank, but, also to the nation. Contactless is “tap and pay” – very convenient way of payment, as customer can use their card in contactless enabled POS terminal without inserting cards.
When one NFC-enabled device is close enough to another NFC device, a connection can be established and data shared between them. For example, when a customer taps card on a contactless card reader or while using a transport card to catch a train or bus. In both the cases, the card communicates data to the reader to initiate and complete the transaction using NFC technology. “Since we have launched EMV based cards and POS, it has brought significant benefits where it has been implemented, demonstrating impressive levels of fraud reduction, as well as providing a technology platform that supports innovation and value-added services. In addition, contactless technology enables the best possible consumer payment experience and provides an opportunity
to grow card usage by displacing cash transactions,” said CEO of the Bank Anil Keshary Shah.
Nabil Bank is a pioneering principal member of Visa International, MasterCard International and UnionPay International in Nepal and issues debit, pre-paid and credit cards and acquires card transactions through its
ATM, Point of Sales (POS) & Electronic Payment Gateway network.
Nabil Bank has always been in the forefront in adopting new technology and introducing innovative products and services. With the start of “Contact less technology in card business” Nabil Bank’s cardholders and merchants will benefit immensely.

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