KATHMANDU: Himalayan Bank and Smart Choice Technologies have signed an agreement to operate and collaborate on interbank payment services. As per the agreement, Himalayan Bank has joined SCT’s ‘Smart Pay Network’. With this association, Himalayan Bank customers will now be able to easily and securely transfer funds to other accounts of various banks and financial institutions through SmartPay IBFT.

The ‘SmartPay IBFT’ service developed and operated by SCT facilitates the transfer of funds through digital means between participating banks and financial institutions, digital wallets and remittance companies. This service is expected to further strengthen Nepal’s digital payment system and increase financial access by maintaining interconnectedness among various financial sectors.

SCT is Nepal’s first domestic card ‘STC Card’, licensed by the payment system operator from Nepal Rastra Bank. Currently, SCT has been providing modern digital payment services including STC Union Pay Card, Visa Card, MasterCard, NepalPay Card, ATM, POS, Internet and Mobile Banking, and Smart QR through various banks and financial institutions, wallets, remittances and cooperatives.