Introducing Spot Banking for Cooperatives and Microfinance in Nepal

Spot Banking by mDabali aims to provide modern banking services to unbanked people across the country, especially in rural, and semi-urban areas. With this banking facility, customers of the banks can deposit/withdraw money and make loan payments through Spot Leaders without visiting the bank branches.  Equipped with the latest technology infrastructure and powered by QR Code verification, Spot Banking Outlets will provide real-time, seamless, and secure banking services giving more flexibility and freedom to the customers. Spot Banking is backed up by mDabali.

 

 

Who Can Use Spot Banking?

Spot Banking Service is developed and introduced especially for cooperative and microfinance institutions in Nepal. In order to use spot banking service, one needs to hold an account with the institution.

 

 

Who are Spot Leaders?

Spot leaders, similar to the tellers in the banks, are people who are authorized to perform various banking services on behalf of the institutions. These leaders are selected, trained, and supported by the respective cooperative and microfinance institutions.

 

 

Banking Services Available Through Spot Banking

-          Cash Deposit

-          Cash Withdrawal

-          Loan Payment

 

 

How Spot Banking Works?

 

For Cooperative/Microfinance’s Member

Step 1: Open mDabali App. Select “Scan & Pay” option available at the bottom center of the homepage

Step 2: Choose “Generate QR Code” from the list of options

Step 3: Enter required details for deposit/withdrawal/loan payment & Generate QR Code

Step 4: Enter your PIN number to generate the QR Code

Step 5: Spot leader will scan the QR Code and verify the transaction

 

 

For Spot Leader

Step 1: Open mDabali App Select “Scan & Pay” option available at the bottom center of the homepage

Step 2: Choose “Scan QR” from the list of options

Step 3: Scan the QR Code provided by the Cooperative/Microfinance member

Step 4: Verify the customer name and account number received after scanning the QR

Step 5: Enter your PIN number to complete the transaction.

 

 

Spot Banking Benefits

 

For Microfinance/Cooperatives

-          Inclusion of the unbanked population into formal banking channel

-          Enhanced convenience by taking banking to customers’ neighborhoods

-          Reduced infrastructure, set up, acquisition and running costs

-          Increased efficiency in service delivery

-          Quality delivery of financial services in remote areas

 

 

For members

-          No need to visit branches

-          Completion of banking transactions in real-time

-          No queues, flexible working hours, increased awareness

-          Contactless payment solution using QR Codes

-          Simplified banking process by elimination of time-consuming paperwork

 

 

You can find the tutorial videos of how to use the available features of mDabali.