KATHAMNDU: Himalayan Bank Ltd on Monday acquired 20 percent stake in Smart Choice Technology (SCT) Pvt Ltd. SCT provides integrated shared services network for ATMs and Point of Sale (PoS) terminals of various banks and financial institutions (BFIs).
Himalayan Bank is the settlement bank of SCT Network for all transactions made through ATMs and POS terminals in Nepal. Issuing a statement, the bank said that it entered into an agreement with SCT with the aim of expanding card business service in Nepal.
SCT, which was established in 2001, has been extending its services to BFIs under its SCT network. It has expanded network to as far as India, Bhutan and China. Currently, it has 59 BFIs with 985 ATM connected to its network. They have been dispensing average daily cash amounting to Rs 135 million through its ATM network, according to the statement.
