So far, more than 42,000 users have taken IME Pay’s physical Visa card. According to IME Pay’s plan to distribute free visa cards, more than 42,000 people have taken physical visa cards so far.
IME Pay has been providing both virtual and physical cards. Amod Bhattarai, Acting Chief Executive Officer of the company, said that IME Pay is the first wallet to provide physical cards in Nepal’s wallet industry.
Currently, banks and financial institutions are providing visa cards. I had to go to the bank to get a card from the bank and open an account. Then you have to apply for the card, this process is complicated.
CEO Amod Bhattarai
It takes at least a week to get the card from the bank. But you can get the card immediately from IME Pay. The company believes that this facility will free you from the hassle of going to the bank and getting a card.
IME Pay’s physical Visa card is like an ATM card. Money must be in the IME Pay wallet to do business with a Visa card. With this visa card, money can be withdrawn from online transactions, POS machines and ATMs.
Transactions can be done with the card only after linking the card by scanning the QR from the app. Money must be paid in IME for transactions.
He said that it is planned to distribute physical visa cards to 1 lakh people this year. The physical visa card can be obtained from the central office or the nearest agent.
If the card is lost, it can be blocked and unblocked from the app. In addition, PIN reset and deactivation of the card can also be done from the app. Payment can also be made by tapping the physical card on the POS machine.
The card can be used in the Visa network. The validity of both physical and virtual cards is 3 years. Physical card renewal can be done from central office or agent. Similarly, you can get a virtual card from the IME Pay app, and you can also renew it from the app.
Bhattarai says that visa cards are being distributed in collaboration with Global IME Bank targeting the youth.