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360 Transport Solutions and Siddhartha Bank Signs MOU. Know what will happen next.

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360 Transport Solutions and Siddhartha Bank MOU

360 Transport Solutions and Siddhartha bank recently signed a MOU to promote International level digital payment system in the public transport sectors of Nepal. Siddhartha Bank signed this MOU with 360 Transport Solutions so as to promote cashless transactions and digitize the payment systems in Nepal.

Digital payments are being used in many sectors and Nepal is finally moving towards digital transactions. Now, 360 Transport Solutions and Siddhartha bank has worked together to use digital payments in public transports.

This is not the first time that a transportation company has moved towards cashless digital payment. Transportation companies like Sajha Yatayat, Sundar Yatayat, and Kipu Bus Sewa are already using or are in plans to bring this system where you can pay bus fare using a card.

The agreement was signed between Mr. Suresh Raj Maharjan, Head Business Support of Siddhartha bank, and Mr. Kushal Regmi, CEO of 360 Transport solutions on the 22nd of August 2020.

Details of the MOU between 360 Transport Solutions and Siddhartha Bank

According to the MOU, the vehicles of 360 Transport Solutions will have Siddhartha bank’s POS machine installed on them. The passengers can then pay the fare by using the Smart Prepaid Card on the POS machine. You can get this smart prepaid card at any branch of Siddhartha bank as well as the vehicles itself as well.

This is a great initiative towards the digitization of payment processes and also ease of use. Moreover, in the current situation where any physical contact creates the risk of virus, this digital payment is a great solution to reduce such risk as well.

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Robin is a BSc. CSIT graduate, interested in tech and digital marketing. His hobbies includes watching movies and traveling.

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