NIFT signs agreement with Allied Bank for digital financial services
Allied Bank will connect to NIFT’s Digital Financial Services Platform, “NIFT ePay”
LAHORE – National Institutional Facilitation Technologies (NIFT) and Allied Bank recently signed a strategic agreement to enable digital payments (Mobile/e-Commerce ) through NIFT’s Digital Financial Services platform under the brand name “NIFT ePay”.
In an effort to promote Digital Payments in Pakistan, NIFT, an existing Payment System Operator/Provider (PSO/PSP) offering nation-wide cheque clearing services, is gearing up to soon launch its e-commerce payment gateway. NIFT ePay’s primary focus is to execute interoperable and secure digital commerce payments using any bank account and wallet details in Pakistan. This provides an opportunity to the customers to conduct e-commerce transactions directly through their accounts (CASA) or Wallets.
‘Allied Bank’ is one of the largest banks in Pakistan having a network of 1350+ branches and a customer base of around 3.5 million. Operating in the Corporate, Retail and Consumer Banking services, Allied Bank has been focused to provide digital channels to its retail and business customers for making secure and convenient digital payments.
The agreement was signed by Mr. Haider Wahab, CEO – NIFT and Mr. Sohail Aziz, Chief Digital Banking – Allied Bank, in presence of team members from both organizations. The event was also honored by the presence of Mr. Tahir Hassan Qureshi, CEO – Allied Bank.
Speaking on the occasion, Mr. Haider Wahab, CEO – NIFT, said, “Pakistan digital payment space is transforming quickly and the endeavors from the regulator to support the growth of digital payments are showing solid results. We are pleased to sign up Allied Bank for NIFT ePay services, enabling Allied Bank account holders to make payments on NIFT ePay platform through their bank accounts and also allowing Allied Bank to offer online collections to its corporate and business relationships. Allied Bank maintains its niche in the financial services space and has a great potential in digitizing payments and collections in partnership with NIFT”
Mr. Sohail Aziz, Chief Digital Banking – Allied Bank, said, “ABL is continuously re-aligning towards digital transformation by adopting robust technology platforms and expanding its outreach to provide innovative customer centric products and services for all customer segments. Partnership with NIFT ePay service is another milestone to expand digital payments landscape in Pakistan.”
- Pakistan launches documentary on February-27 response against Indian ...05:38 PM | 26 Feb, 2020
- Women’s T20 World Cup 2020: Pakistan beat West Indies in Canberra05:24 PM | 26 Feb, 2020
- Nazi-inspired RSS ideology taking over India, may lead to bloodshed: ...03:33 PM | 26 Feb, 2020
- Punjab Cabinet declares PML-N Supremo Nawaz Sharif as “absconder”01:46 PM | 26 Feb, 2020
- Greta Thunberg and Malala Yousafzai meet at Oxford University01:17 PM | 26 Feb, 2020
- Hamza Ali Abbasi calls out Hindutva activists, urges world to take ...01:12 PM | 26 Feb, 2020
- Sonya Hussyn was never in my books for MPTH: Khalil ur Rehman12:35 AM | 26 Feb, 2020
- Top 10 most searched people of 2019 in Pakistan06:52 PM | 12 Feb, 2020
- Top five impressive benefits of Orange juice07:14 PM | 6 Feb, 2020
- 8 Reasons to buy HONOR 8 Series04:49 PM | 23 Oct, 2019
- Meet members of Pakistan’s first-ever National Youth Council05:05 PM | 1 Jul, 2019