Faysal Bank, in line with its vision to enable and promote cash-less and digital payments has entered into an agreement with National Institutional Facilitation Technologies (NiFT), one of the largest payment processors in Pakistan for enabling digital commerce payments (Mobile / Electronic Commerce Payments) through NiFT’s DFS platform under the brand name “NiFT ePay”.
The agreement opens up new opportunities for both organizations to build new digital use cases. Faysal Banks customers and account holders would now have access to digital commerce solutions offered by NiFT ePayment Gateway and enable them to collect digital/online payments from account holders of other banks as well as wallet account holders.
The agreement was signed by Mr. Haider Wahab, CEO – NiFT and Mr. Dato Arif Siddiqui, Chief Digital Officer – Faysal Bank.
Speaking on the occasion, Mr. Haider Wahab said, “We are pleased to sign up with Faysal Bank which has always led the way in promoting Payment System Operators in Pakistan and has signed up for NiFT ePay services with very innovative and exciting plans. We are confident that the partnership between Faysal Bank and NiFT will create different and unconventional digital use cases in the financial services sector.”
Mr. Dato Arif said, “We at Faysal Bank are excited to be part of NiFT ePay’s growing network of partner banks. Enabling and partnering with Fintechs such as NiFT ePay is a key pillar in our bank’s digital strategy and we look forward to working with them.”
NiFT ePay is establishing an interoperable and secure digital commerce payments which works with any bank account or wallet in Pakistan. This provides an opportunity to the customers to conduct e-commerce transactions directly through their bank accounts or Wallets.
Faysal Bank is one of the large commercial banks in Pakistan with a growing network of over 550 branches, operating in Commercial, Retail, Corporate and Islamic Banking segments. Faysal Bank is taking a lead in providing payment services through digital channels to both its retail and business customers across Pakistan.