Citizens Bank launches a virtual credit card for first time in Nepal

KATHMANDU:Citizens Bank and FonePay have collaborated to launched Nepal's first virtual credit card.

Ganesh Raj Pokharel, Chief Executive Officer of Citizens Bank, and Divash Kumar, Chief Executive Officer of FonePay, signed an agreement on virtual credit card operations during an event hosted at the bank.

Eligible clients can apply for the virtual credit card immediately through the Citizens Mobile Banking App. Customers would be able to get a credit limit of Rs 20,000 to Rs 250,000 using this card, which does not require any paperwork or a physical card.

To make online transactions within Nepal, utilize a virtual credit card by scanning the code. It also provides the option of EMI.

The bank has given customers the option of repaying the debt quickly within 45 days. It also offers the option of paying anything from 10% to 100% of their total credit card balance.

A virtual credit card is one that operates entirely digitally. Customers can obtain this card and conduct their transactions using their mobile banking application. This card is predicted to fundamentally alter the payment card industry and the consumer elite.

The bank operates 190 locations and 153 ATMs across the country. And has been providing modern banking services to 1.724 million customers through 98 branchless banking units.