Follow @nepalithito82 : ..SCT Network
Article 1: What is SCT Network and its importance for Nepali Market?
Article 1: What is SCT Network and its importance for Nepali Market?
In this time many F.I. are connected with payment network to provide their customer with debit card as well as online payment services. SCT is also offering above services as well as in various other new payment technologies and services are on testing phase. SCT is one of the first payment service in Nepal which has currently more than 82 F.I.’s, 1150+ ATM’s, 2000+ POS and more than 1.6 Million customers base. These data’s shows the popularity, reliability and security of SCT Network services. SCT Network has covered almost 75 districts of Nepal. SCT users also can withdraw amount from India and Bhutan via specified F.I. ATM’s in reasonable charge. Joining SCT will increase the F.I. reputations and allows their customer to use all payment products & services available in SCT with reasonable charges. SCT has never charged hidden cost for its member. Our charges are fully described in agreement papers and if any additional service launched it will first confirm than add product and services with respective charge.
Section 2: Introduction of SCT Network
2.1 About SCT:
SCT network is a national payment technological company that enables consumers, business, financial institutions and government to use electronic payment instead of cash and cheques. With the believes to provide payment solution throughout Nepal SCT has establish in 2001 A.D. With self deployed 28 ATM’s, and very few F.I. it has started it services which reaches to 1150 plus ATM’s , 2000 plus POS machine and customer base are more than 1.6 millions.
2.2 Objectives:
More than 80% people are far away from using modern payment solutions SCT has been organizing several events and programs to aware those people who are still away from the benefit for using such modern payment technologies which are available in local market. SCT also spending more than 5% of his profit income is social welfare programs. SCT doesn’t only sales its products and services but also provides full time support for its members and users. It also suggests several of useful strategies for increasing F.I. customer’s base by using SCT products and services. SCT believes in providing secure, quality and satisfactory services in reasonable price, is only the key of success.
2.3 Mission and Vision:
It has Implement various modern payment technologies and services in SCT network to provide its users with international standard product and services within in Nepal. It has mission to make SCT network to be recognized globally by extending it services it services throughout world. For this it has been communicating with various country service providers to acquire SCT within their network.
Section 3: Why to Join SCT?
The national card payment system SCT is one of the largest and best known networks for electronic payments in Nepal. It has connected all SCT card members, F.I. and Sales Merchants. Currently there are more than 1.6 million SCT debit card issued by 80 leading F.I. from Nepal and two F.I.’s from Bhutan.
The numbers of SCT card members are increasing everyday which shows that SCT card members recognized multifold benefits of joining the SCT Network. Therefore, joining the SCT Network may be your best business decision that enables your customers to use the benefits of paying by SCT debit cards at your own sales establishment or a web shop through utility payment options in SCT MoCo & nPay.
Benefit for Customers:
· No need to write checks for cash and stand in branch lines.
· Free from risk of carrying Hard cash.
· Solve the problem for paying small amount during shopping at departmental stores.
· Several of diseases that are spread through paper notes or coins can be controlled.
· Life of Hard cash can be increased.
· People can easily compare the price of different product while doing online shopping.
· People will get familiar to use new payment technology available in market.
· Card holders can do several of banking tasks like cash withdraw, balance query at convenient locations.
· ATM’s of SCT Network is opened for 24 hours in certain location so that withdraw is possible even in emergency period.
· Customer can issue nine supplementary cards for single account customers.
Benefit for F.I.
· F.I. may participant in the SCT Network as an issuer and or Acquirer.
· It adds the positive marks for F.I. debit cards.
· Supports cash withdrawals, balance query & pin change.
· 24X7 service available for F.I. and its customers.
· Connect their customers with their cash deposited in bank account wherever they are.
· Limited number of teller required to serve customer at office.
· Increases the number of F.I. customers.
Section 4: Members and other Information’s:
There are 82 numbers of financial institutions in it network among them 23 Nos. of Commercial Banks, 38 Nos. of Development Banks and 49 Nos. of financial institutions. SCT has more than 1150 nos. of ATM, More than 2000 POS machine and customer base are more than 1.6 Millions.
Section 5: Products/Services:
Debit Card: A debit card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services. At first F.I. order certain number of fresh card as per requirements via SCT. Those fresh cards should be sent as per customer request to SCT. SCT will personalize those fresh cards and make it SCT debit card. Those finished SCT debit card will again sent to F.I.
Pin mailer: With personalize cards there is pin code provided to customers. Incase customer forget his/her previous pin mailer Repin will generated.
Card Management Software: For the convenient of member, SCT has offered a Card Management Software which is used by member banks to view card transaction and update the card status. Also it has various features that are useful and related to card transactions.
ATM/POS Networking: ATM is computerized machine that permits bank customers to gain access to their accounts with a magnetically encoded plastic card and a code number. ATM connected in SCT network enables the customers to perform several banking operations without the help of a teller, such as to withdraw cash, obtain bank statements, and cash transfers (on testing phase). A point of sale/service (POS) machine is used to conduct retail transactions. SCT user can pay their shopping amount through POS transaction.
POS Cash Advanced: This is pos sale cash advance where customers obtain money from his/her debit card at pos terminal. In this SCT user have to pay certain charges. It is suitable mainly in remote location where ATM machine not available or not able to install.
eCommerce (Utility payments): SCT user can do online shopping and pay through SCT debit cards with reasonable charge. For more details customer need to visits
SCT-MoCo & SCT- nPay sites.
SCT-MoCo & SCT- nPay sites.
· Some of services are which are on testing phase in SCT are Inter Bank Fund Transfer Services and Mobile Pay solutions and will planning to implement in SCT very soon.
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Article 2: What is the importance of SCT Network in Nepal
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Section 1: Executive Summary
This is the age of modern payment technology. Various traditional payment options seem to be expensive, slower and unsafe to carry. So, to overcome such problems SCT has implemented Nepal’s first payment network.
Currently, there are more than 82 Financial Institutions which are connected in its network. It has offered its services not only within Nepal but also in Bhutan as well. SCT users also can withdraw amount from India through specified bank ATMs. Various services like debit card, eCommerce (Utility payment), ATM/POS network, POS cash advanced are currently running through SCT and research and testing is going on other advanced technology like IBFT (Inter bank fund transfer). Similarly, mobile payment is still on the way to get launched through SCT Network.
SCT has always focused on secured transaction for its customer. So, pin code option even for POS transactions is applied by SCT. Mandatory pin change option is another way to make transactions secured.
SCT has separated various departments who are responsible for specific tasks so that quality service is maintained. SCT is not taking hidden cost from its members and charged only for what we serve. SCT has never compromised for security and quality. Organizing free training as per member banks request or necessity makes good working environment between SCT and its members.
Section 2: Introduction of SCT
With a view to providing national payment technological service, Smart Choice Technologies was incorporated in 2001. It was a first national payment technological company which was established in Nepal.
The company has been heavily investing in providing the service effectively. Under a professional technical and management team, the company has established itself as an emerging key player. Today, the company is recognized as an innovative and progressive service provider in a technical field.
2.1 Before SCT Network Established:
Before, there were only 15 commercial banks in Nepal which were providing banking services. People used to keep money in bank for security and earning interest from those deposited amount. Cheques were only one medium through which the deposited money could be withdrawn from particular branch where he/she has opened their account. By then, people used to carry physical cash due to which they had to face different problems. Sometimes they even had to face physical disaster. Similarly, before SCT was introduced in Nepalese Market there were only 100-150 POS Machine (acquired by Himalayan, Nabil & Greenlays and Alpine) and 4 ATM (Acquired by Himalayan Bank).
2.2 After SCT was established on 2001:
When SCT was introduced there were not any National payment switches in Nepalese market. As the concept was totally new and outsourced, there were very few banks that joined SCT. However, Himalayan bank was a first bank to join SCT. SCT has deployed 28 ATMs itself to create market for such debit card services. In those ATMs cash management was done by particular member bank. About 200 POS machines were deployed in the Nepali market through its member banks.
Section 3: Why to Join SCT?
SCT is a huge payment network of Nepal with 850+ ATMs, 1500+ Pos machine in its network within Nepal. Also it has provided option to withdraw amount from India and Bhutan with specified financial institutions ATMs. It offers various services like Debit card services, ATM/POS Networking, POS Cash Advanced, SCT-MoCo, SCT-nPay which are the primary services of SCT Network. In upcoming services, there are Inter Bank Fund Transfer (IBFT) Services, Mobile-payment solutions.
· All member banks are treated equal manner.
· Opportunity to access ATM & POS throughout Nepal. ATM in India and Bhutan through specified financial institution’s ATMs.
· Users are provided thermally printed card with ISO standard track information which has high durability and reliability.
· There is not any hidden cost charges for product and services provided by SCT.
· Secure transaction in ATM as well as POS machine.
· Skilled manpower handling each specific task.
· Securely delivery of requested cards and respective pin mailer to member banks in committed date.
· Sufficient backup for Hardware and Software resources.
· Security, Quality and Prompt Services.
· 24x7 hrs services are available which monitored through connectivity of ATM, POS and other device connected on SCT switch.
· Free training available whenever it is necessary.
· Immediate response for any query or problems from member banks or SCT users.
Section 4: Members, No. of ATM, POS & SCT Customer Base:
4.1 Current Status (2001 - 2013) of SCT Network in Nepalese market:
· 1150+ ATMs
· 2000+ POS
· SCT Users- More 1.6 Million
4.2 Current Member Banks of SCT Network:
· Commercial Banks: 23 Nos.
· Development Banks: 38 Nos.
· Financial Institutions: 49 Nos.
Section 5: Products/Services:
5.1 Products:
· Debit Card: Fresh Card, Name Printed Card, Instant Card
· Pin mailer: Respective Card Pin Mailer, or Repin if necessary.
· Card Management Software: It is used by member banks to view card transaction and to update the card status. Also it has various features that are useful and related to card transactions.
· ATM/POS machine can be provided to member banks as per requirement of member banks.
5.2 Services:
5.2.1 Current Services:
· Debit card services
· ATM/POS Networking
· POS Cash Advanced
· SCT MoCo & SCT nPay
5.2.2 Upcoming Services:
· Inter Bank Fund Transfer (IBFT) Services
· Mobile-payment solutions.
5.2.3 Product Training for sales associates:
SCT offer the training related to SCT products as per requirement or request from member banks without any charges through various departments HOD or skilled SCT employee.
