Century Commercial Bank and MOCO Digital wallet have signed an agreement to allow QR-based paymentthrough the mobile wallet. The agreement allows the bank’s customers to perform electronic transactions through the wallet over the internet.
Both companies recently signed the Memorandum of Understanding (MoU) at a signing ceremony. Pranaya Rajbhandari, Chief Executive Officer of Moco Digital Wallet, and Shankar KC, Chief Business Development Officer of Century Commercial Bank signed the agreement papers.
The agreement allows the bank’s credit and debit card holders to make payments through the QR scan. The bank says the customers’ payment will adhere to the regulations and limitations of the concerned payment card service.
To acquire the service, the bank’s customers have to load their concerned card profile into the MOCO digital wallet. After this, they can pay for goods or services that accept electronic payment through the QR scan.
The wallet payment will rid the bank customers of the need to carry credit and debit cards in their pockets on their way out.
Cashless payment and the economy have been a focal point in Nepal since Covid-19 and the FinTech industry is carrying the momentum to new heights.
About Century Commercial Bank And MOCO Wallet
Century Commercial Bank Limited (CCBL) is a Class A commercial bank in Nepal established on January 23, 2001, with the purpose of providing simplified banking services by incorporating innovations in information and communication technology. The bank seeks to expand its services across the country to enhance financial inclusion and is driven by the mission “saral banking sabaiko lagi” (simplified banking for all).
The bank has a network of 126 branches, 10 extension counters, 25 branchless banking, and 108 ATMs around Nepal.
MOCO (Mobile Payment System) is a service of FOCUSONE Payment Solutions, a fintech venture established in 2009. MOCO Digital Wallet allows users to make various payments, book tickets, and query for balances from their bank accounts via debit cards.