Ten years successful journey by SCT Network

Ten years successful journey by SCT Network

Before SCT Network Established:

There were only 15 commercial banks in Nepal which are providing banking services. People used to keep money in bank for security and earning interest from those deposit amounts. After depositing those amount in bank provided cheque is only one medium to withdraw those deposited amount and only from particular branch where he/she has opened account. While travelling one place to another place people mostly carry physical cash due to which they have to face different problems and sometimes they face physical disaster. In Nepalese Market there only 100-150 POS Machine (acquired by Himalayan, Nabil & Greenlays and Alpine) and 4 ATM (Acquired by Himalayan Bank).

After SCT was established on 2001:

When SCT was entered in the Nepali market there weren't any National payment switch in Nepalese market. As the concept was totally new and outsourcing concept was not in Nepali market so many banks feels first hesitate to join SCT Network. However SCT never keep it step backs to aware those financial institute. Himalayan bank was a first bank to join SCT after than other banks also joined SCT Network. 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 machine were deployed in the Nepali market through its member banks.

Current Status (2001 - 2010) of SCT Network in Nepalese market:

ATM- 850+ POS-1500+ SCT Users- 11 Lakhs

Member Banks of SCT Network (upto 1 Jan 2011):

• Commercial Banks: 24 Nos

• Development Banks & Financial Institutions: 48 Nos.

Current Services provided by SCT:

Debit card services, ATM/POS Networking, POS Cash Advanced, Ecommerce are the primary services of SCT Network,

Upcoming Services:

Inter Bank Fund Transfer (IBFT) Services and other payment solutions.

Changes in human behavior:

We have found lot of changes in human life style through SCT debit card which can be listed as below:

o Previously the customer don't have any concern about card services but now most of the customer looks whether there is debit card services are available or not before opening the account in particular banks.

o ATM/POS/Ecommerce is in the reach of general public of Nepal.

o People can able to withdraw amount from anywhere and any bank ATM which are in SCT Network.

o Flow of e-cash increases due to its smooth and secure transaction.

o Various problems such as health hazard, fake notes issues and paper note life are being solved due to online payment services.

o Consciousness on using debit cards securely has increased.

At last we would like to give best wishes for more successful journey of SCT Network Nepal as well as throughout the world.