Nabil cardholders can now shop online worldwide

KATHMANDU, Nov 25: Nepalis can finally shop online in a highly secure environment, thanks to Nabil Bank. The country´s largest private sector-led bank, in terms of assets, on Sunday launched a service called eSecure, which has opened the floodgates for its customers using cards of Visa and MasterCard to conduct online transactions.



This is the first time such a service has been introduced at a commercial level by a local bank.[break]



The service, a milestone in Nepal´s baking sector, is currently available to around 200,000 debit card and 20,000 credit card users of Nabil Bank. Those using rupee-denominated cards can conduct transactions on Nepali and Indian sites, while holders of US-dollar-denominated cards can log into any online shopping site to make purchases.



“We hope the service´s launch will make it easier for all cardholders to at least purchase train or flight tickets, confirm hotel reservations and purchase other goods and services via Indian sites, (as Nepali cards are accepted throughout India),” Niraj Sharma, head of the card division at Nabil Bank, told a press conference organized in Kathmandu on Sunday. Those who have US dollar accounts at the bank, on the other hand, can use their cards to make purchases and settle payments on all sites worldwide that offer e-commerce platform.



Until now, cards issued by Nabil Bank were only being used to withdraw cash from automated teller machines and make payments via swipe machines. There were instances when the bank used to allow customers to conduct online transaction, but such service used to be provided on the basis of special request made by customers and for a limited amount of time, according to Sharma.



“Earlier, we used to discourage customers to use Nabil cards in online environment as our security features were not robust,” Sharma said.



“Now we have incorporated three-domain authentication process, which allows transaction to take place only upon insertion of passwords created by cardholders (i.e. the four digit personal identification number that cardholders use to withdraw cash from ATMs). This feature provides a highly secure environment for online transactions.”



If you are interested in the service you should first fill up a registration form available on the bank´s website or by visiting an online shop - whichever is convenient.



A registration fee of Rs 100 and an annual fee of Rs 100 will be charged. Customers will also have to pay a transaction fee of Rs 50 or 0.5 percent of the transaction amount, whichever is higher, upon every purchase. And disputes will be settled as per the guidelines issued by Visa and MasterCard, Sharma said.



Currently, Nabil Bank is allowing customers to make up to five transactions or transactions of up to Rs 200,000 per day. “These ceilings may be revised after observing trend of next few months,” Bhuvan Dahal, assistant general manager of the bank, said.



Nabil Bank CEO Anil Gyawali said: “We have focused on customer service since our establishment. We hope this novel service will allow Nabil cardholders, wherever they are, to shop online safely and conveniently.”

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