NAWALPUR: The VYCCU Savings and Cooperatives Limited in Gaindakot-8 of Nawalparasai (Bardghat- Susta East) has launched the VYCCU Virtual Card, first of its kind in the country.
The facility, aimed at providing card-free transactions services to cooperative company members, came into operation on Friday.
Sanket Kandel, chief of Information and Technology Department at VYCCU, informed the facility enables VICCU members to access mobile banking, request and renew cards, and block and unblock. It also allows users to make easy payments at ‘e-commerce’ businesses.
Kandel added that ATM cards issued by other banks within the SCT network can also be linked to VYCCU Virtual Card. The cooperative is also preparing to introduce a facility that will allow members to make QR payments in India through the VYCCU app soon.
The VYCCU Virtual Card was launched as an alternative to the ATM card on the occasion of the cooperative’s 36th anniversary, according to VYCCU president Prem Prasad Sapkota.
Founding President Khemraj Sapkota said VYCCU, which started with 26 members 36 years ago, now has more than 135,000 members. It was established by 26 youths from Gaindakot who began by contributing Rs 50 daily. It has since then grown to hold deposits of Rs 8.8 billion, and share capital of Rs 810 million.
