KATHMANDU: Nepal Bank Limited (NBL) and fintech company Fintara Solutions, which operates the Buy Now Pay Later, (BNPL) platform, have signed an agreement to provide instant EMI services to the bank’s credit cardholders. The agreement was signed at the central office of Nepal Bank in Kathmandu in the presence of senior officials of both the organizations.
According to the agreement, the customers who are eligible credit cardholders of Nepal Bank will be able to make the purchase of goods and services through OneBNPL’s business network and pay it in easy installments ranging from 3 months to 18 months with 0% down payment.
OneBNPL’s network includes more than 150 online and offline business establishments, including retail shops, mobile phones and gadgets, home appliances, hospitals, resorts and holiday package providers. Through this facility, credit card holders will be able to make daily and essential purchases without paying a lump sum.
Pradip Kumar Pathak, Chief Credit Officer of Nepal Bank Limited said, “Through this partnership with the budding fintech company, we aim to provide modern digital ‘Buy Now Pay Later’ service to our credit cardholders. ”
Similarly, Ashish K. Sharma, Executive Director, Fintara Solutions. Sharma said, “The launch of ‘OneBNPL’ service through a public sector bank with the largest customer base in the country is a milestone in the direction of increasing loans. This will make daily purchases easier at a lower cost through the use of credit cards.” ”
Arjun Bahadur Kandel, Head of Retail Credit Department of Nepal Bank Limited and Deepak Regmi, Head of Card Department, Nepal Bank Limited stressed on the importance of providing instant installments in partnership with fintech companies to meet the changing needs of customers.
Under the main features of this innovative service, eligible credit card holders of Nepal Bank will be able to get installment facility with zero percent down payment. Customers can choose a flexible payment period of 3 to 18 months as per their convenience.
This service is enrolled in more than 150 online and offline partner merchant establishments, covering different sectors such as retail, mobile & gadgets, home furnishings, healthcare, resorts & travel packages.
