Himalayan Bank Ltd. has become a stakeholder of Smart Choice Technology Pvt. Ltd. (SCT) by acquiring its 20% equity shares. Himalayan Bank is the settlement bank of SCT Network for all transactions made through ATMs and POS terminals in Nepal.
SCT Pvt. Ltd. is a well known integrated shared services network for ATMs and POS Terminals of various Banks and Financial Institutions. It was established in the year of 2001 and has been extending its service to BFIs under its SCT network. Besides Nepal, its network has expanded to India, Bhutan and China. Currently it has 59 Financial Institutions with 985 ATM connected to its network. They have been dispensing average daily cash amounting to NPR. 135 Million through it's ATM network.
Himalayan Bank and SCT entered into this agreement with the aim of expanding card business service in Nepal with latest technology and uplifting service to the financial sector.