NIC Asia Bank Launches Mastercard Issuance Service to Enhance Payment Systems

NIC Asia Bank has launched a Mastercard Issuance service to enhance its digital banking offerings. This new service, introduced during an event in Pokhara, allows customers to obtain Mastercards as debit cards from all branch offices.

These cards feature advanced security and contactless technologies, enabling VIP customers to make POS and e-commerce payments, as well as ATM withdrawals in Nepal, India, and Bhutan. The partnership with Mastercard aims to elevate Nepal's banking sector.

Previously, NIC Asia Bank provided services through VISA cards. The bank operates 360 branch offices, 670 ATMs, 118 extended counters, and 51 branchless networks nationwide, serving about 25% of the economically active population aged 20 to 50 years.

The bank supports Nepal's economic development and has contributed over Rs. 23.7 billion in revenue to the government, including Rs. 3.61 billion in the last financial year.

NIC Asia Bank focuses on financial inclusion by expanding branches in remote districts and underserved local bodies, with 72% of its branches in rural and small urban areas, where over 80% of Nepal's population resides.