June 18, 2017 09:15 PM NPT
KATHMANDU, June 18: Visa, the global leader in payments technology, has completed two decades of operation in Nepal.
"Since the first Visa card was launched in 1997, Visa has led Nepal's transition from magnetic stripe cards to EMV chip technology, powering the country's adoption of digital payments," Visa said in a statement on Sunday.
Over this period, Visa has processed over 147 million transactions totaling US$ 12.7 billion across Nepal, in the process growing its card base to nearly 3 million Visa cards in the market, the statement added.
TR Ramachandran, Visa's Group Country Manager -- India & South Asia said in the statement that Nepal is one of the key growth markets for Visa. "With an increased focus on electronification of payments and the eCommerce industry booming in the foreground, Nepal is taking rapid strides towards new age banking," the statement added.
Visa further said that it was associated with leading financial institutions and merchants across Nepal, offering consumers the choice of using their Visa products across over 6,000 point of sale outlets and numerous online platforms.