The Bank of Punjab (BOP) has entered into an agreement with National Institutional Facilitation Technologies (NIFT) for enabling mobile and e-commerce payments through NIFT’s DFS platform under the brand name ‘NIFT ePay’.
The partnership would allow BOP customers to access thousands of digital merchants available under NIFT’s ePay platform, as well as enable the vast corporate portfolio available with BOP to accept digital payments.
NIFT ePay is establishing an interoperable and secure digital commerce payments system that enables customers to conduct e-commerce transactions directly through their accounts (CASA) or Wallets.
The agreement was signed by Mr. Haider Wahab, CEO at NIFT and Mr. Waqas Anis, Head of Digital Banking Group at BOP, in the presence of team members from both organizations. Also in presence were Mr. Imtiaz Sheikh, CIO at BOP and Mr. Fawad Abdul Kader, Head of Digital Financial Service at NIFT.
Speaking on the occasion, Mr. Haider Wahab said,
We are pleased to sign up with The Bank of Punjab for NIFT ePay services. Through its strong relationships with commercial and government entities in the central region, we are confident that the partnership between BOP and NIFT will create different and unconventional digital use cases in the financial services sector.
Mr. Waqas Anis termed the agreement as the first step towards achieving a digital payments ecosystem where collaboration and interoperability within the industry are integral to serving the common goal.
