Bank of Kathmandu Launches Contactless Based card; customers can now make payment without having physical contact at POS terminals

Bank of Kathmandu has launched Contactless (NFC – Near Field Communication) based payment.

Contactless is "Tap and Pay" – a very convenient way of payment, as a customer can use their card in a 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 a card on a contactless card reader or while using a transport card to catch a train or bus. In both cases, the card communicates data to the reader to initiate and complete the transaction using NFC technology. 

Bank of Kathmandu has introduced a contactless payment system through Cards and POS terminals; this has been one of the greatest indicators that the Bank is together with the Nepal Government’s call for encouraging cashless transactions by creating timely innovative digital solutions.

As per Central Banks regulation, Payments of up to Rs 2000 can be made without entering a PIN if the terminal is capable to accept contactless payment technology. A secure certified Near-Field Communication (NFC) chip embedded POS enables all the functionalities of a standard Contactless Mega Bank Cards, as per the release

The bank currently has 90 branches, 78 ATM outlets, and 10 extension counters under its network.