NIMB uveils Nepal’s first visa wearable sticker at event in Aloft Hotel

KATHMANDU: Nepal Investment Mega Bank Limited (NIMB) has officially launched Nepal’s first Visa Wearable Sticker, branded as NIMB Paywear, in an event held at the Aloft Hotel in the capital.

The groundbreaking payment solution, which allows customers to make secure contactless transactions by simply tapping a wearable device at any POS terminal, was unveiled marking a new era for digital payments in Nepal.

The launch event was held in Aloft Hotel and was attended by the press and NIMB Management Team. In the presentation, the Bank highlighted how NIMB Paywear is designed to bring speed, convenience, and security to daily transactions, offering customers an alternative to carrying physical cards or mobile wallets.

“NIMB Paywear is a game-changer for the Nepalese market,” said Mahesh Sharma Dhakal, Senior Deputy CEO of NIMB, during the event. “This product will transform how our customers make payments, offering them unparalleled convenience and speed while ensuring the highest levels of security. We are excited to be the first Bank in Nepal to introduce this technology, once again positioning NIMB as a leader in digital innovation.”

Innovative Payment Solution with Enhanced Security

NIMB Paywear allows users to attach the wearable sticker to any personal item, such as watches, keychains, or phone cases, making it highly versatile and convenient. Users can pay by tapping the device at any contactless POS terminal, perfect for quick and secure everyday transactions.

In compliance with Nepal Rastra Bank (NRB) regulations, contactless payments above NPR 5,000 will require a PIN, adding an extra layer of security for high-value transactions.

Exclusive Launch Offer for Early Adopters

To celebrate the launch, NIMB announced an exciting promotional offer. Customers who apply for and activate their NIMB Paywear stickers within the first three months will have their wearable fee of NPR 1,000 refunded upon completing 12 POS transactions within that period.

This limited-time offer encourages customers to experience the convenience of this new payment method while enjoying the added benefit of a fee reversal.

Positioning NIMB as a Market Innovator

The introduction of NIMB Paywear represents a strategic move for the bank to attract tech-savvy customers and expand its product offerings. By adopting this modern payment solution, NIMB aims to differentiate itself from its competitors and solidify its standing as an industry leader in Nepal’s banking sector.

A Legacy of Firsts in Nepal’s Banking Industry

NIMB has long been at the forefront of innovation in the Nepalese banking industry. In 2003, the bank became the first to issue Visa Electron Debit cards in the country, and it continues to lead in promoting card services through partnerships with Visa Consortium and the National Payment Network (NPN).

Currently, NIMB boasts an extensive network across Nepal, including 9 Visa Associate Members and 1.6 million cards in circulation, with 6.5 lakh being exclusive NIMB cards. The bank operates 275 branches, 265 ATMs, and over 4,000 POS terminals nationwide.

Additionally, NIMB provides services through 65 Extension and Revenue Collection Counters and 77 Branchless Banking outlets, ensuring widespread accessibility to its customers.

By introducing Visa Wearable Stickers, NIMB continues its tradition of introducing cutting-edge technology to the banking sector, further enhancing the customer experience.