The Bank of Punjab (BOP), recognized as one of the nation's premier commercial banks, has embarked on a pioneering journey by unveiling its cutting-edge Point of Sale (POS) payment solutions and online payment gateway services. BOP is the 7th Bank offering this service out of the total of 41 commercial and specialized banks in the country. This strategic move reinforces BOP's commitment to enriching its digital retail offerings and expediting the evolution of the nation's digital ecosystem.
In pursuit of this ambitious endeavor, the Bank of Punjab (BOP) has forged a strategic alliance with PayNet Private Limited, a wholly-owned subsidiary of Omega IT Solutions United Arab Emirates renowned for its expertise in Digital Payment business solutions. This collaboration signifies a pivotal milestone in BOP's mission to introduce Point-of-Sale (POS) payment services to the market, with plans to expand its reach through additional Independent Sales Organizations (ISOs) for comprehensive nationwide coverage.
The Bank will act as a link between merchants, issuers and payment networks by offering them state-of-the-art POS machines and make cashless transactions available over the counters, enabling retailers to benefit from the adoption of digital payments. The POS machines support acceptance of all types of cards.
To commemorate this momentous occasion, a ceremony was held at a prominent local hotel in Lahore. The event served as a platform to recognize the invaluable contributions of key individuals who played pivotal roles in this project. Dignitaries present at the ceremony included Mr. Zafar Masud, President & CEO of BOP, and other esteemed members of the senior management team.
Speaking on this occasion, Mr. Zafar Masud remarked, "The Bank of Punjab is diligently spearheading the modernization of retail services within the country by enhancing our digital offerings and promoting economic documentation. We are already committed to providing top-notch services to SMEs, corporate entities, and government sectors. With the launch of our Merchant Acquiring business, we aim to fortify these strategic partnerships, empowering BOP to deliver innovative and industry-leading payment solutions to customers nationwide."
As the Bank of Punjab embraces the future with its Merchant Acquiring Business, it underscores its dedication to fostering a digitally advanced and financially inclusive landscape in Pakistan. The bank's unwavering commitment to excellence and innovation promises a brighter and more accessible future for all.
Pakistani rupee remains largely stable against the US dollar, and other currencies in the open market on Saturday.
On Saturday, the US dollar was being quoted at 283.4 for buying and 285.95 for selling.
Euro comes down to 307 for buying and 310 for selling. British Pound rate remains unchanged at 358.5 for buying, and 362 for selling.
UAE Dirham AED witnessed slight drop and new rate stands at 77.2 whereas the Saudi Riyal remained stable at 76.
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||358.5||362|
|Hong Kong Dollar||HKD||36.37||36.72|
|New Zealand Dollar||NZD||175.33||177.33|
Gold prices witnessed negative trend in local markets in line with the trend in the international market.
On Saturday, the price of a single tola of 24-karat gold stands at Rs217,600, and 10 grams of 24k gold costs Rs186,560.
Single tola of 22 Karat Gold price costs Rs199,465, 21 karat rate per tola costs Rs190, 400 and 18k gold rate is Rs163,200.00 for each tola.
In the global market, gold prices hovers around $2,004 per ounce, after drop of $23.35 on Saturday.
|Lahore||PKR 217,600||PKR 2,530|
|Karachi||PKR 217,600||PKR 2,530|
|Islamabad||PKR 217,600||PKR 2,530|
|Peshawar||PKR 217,600||PKR 2,530|
|Quetta||PKR 217,600||PKR 2,530|
|Sialkot||PKR 217,600||PKR 2,530|
|Attock||PKR 217,600||PKR 2,530|
|Gujranwala||PKR 217,600||PKR 2,530|
|Jehlum||PKR 217,600||PKR 2,530|
|Multan||PKR 217,600||PKR 2,530|
|Bahawalpur||PKR 217,600||PKR 2,530|
|Gujrat||PKR 217,600||PKR 2,530|
|Nawabshah||PKR 217,600||PKR 2,530|
|Chakwal||PKR 217,600||PKR 2,530|
|Hyderabad||PKR 217,600||PKR 2,530|
|Nowshehra||PKR 217,600||PKR 2,530|
|Sargodha||PKR 217,600||PKR 2,530|
|Faisalabad||PKR 217,600||PKR 2,530|
|Mirpur||PKR 217,600||PKR 2,530|