KATHMANDU, July 3: NIC Asia Bank has introduced a new Mastercard issuance service to enhance its payment system. The launch took place in Pokhara on Sunday. Customers can now obtain these Mastercards, which feature advanced EMV Chip and Contactless technology, from any branch office of the bank. These cards can be used for ATM withdrawals in Nepal, India, and Bhutan, as well as for POS and e-commerce payments.

According to the bank, it is committed to a dynamic and digital-first approach, aiming to elevate Nepal's banking sector through this collaboration with Mastercard. Previously, NIC Asia provided card services through VISA.

According to a press statement issued by the NIC Asia Bank, it operates 360 branch offices, 670 ATMs, and has expanded into rural and underserved areas, serving around 25 percent of the active population aged 20-50 in Nepal. The bank has also contributed significantly to the nation's economy, paying over Rs 23.7 billion in revenue since its inception and Rs 3.61 billion in the last fiscal year alone.