It appears that the wait for having an online payment processing platform is over now. NIB Bank has announced that it is is brining Internet Payment Gateway in Pakistan that will allow online businesses to charge their customers through debit or credit card for the stuff they will buy on internet.
Establishment of Internet Payment Gateway in Pakistan is long pending, which was first announced by PTA in 2009. After that Bank Al-falah, along with its sister concern, claimed similar deployments but nothing turned into reality.
Agreement between Mastercard and NIB was signed on 5th April 2013 at NIB Bank’s Head Office, Karachi, by Mr. Khurram Agha, Group Head Operations & Technology – NIB Bank and Aurangzaib Khan, Country Manager, Pakistan and Afghanistan for MasterCard.
Now that NIB has partnered with MasterCard it is likely that MasterCard Internet Gateway Service (MiGS) will finally come to Pakistan.
With this service, merchants will be able to charge internet surfers with their debit/credit card for the services or products they sell on internet.
“Now, NIB Bank merchants will be able to process payments from cardholders on their online Web stores in real-time. As a MasterCard acquirer, NIB Bank will offer merchants world class, secure internet payment processing capabilities”, said a statement issued by NIB Bank.