National Institutional Facilitation Technologies – Pakistan (NIFT) and Checkout.com sign a Memorandum of Understanding (MoU) for collaboration between both entities, bringing greater payment optionality to the Pakistan market.
The agreement enables both organizations to provide payment services through each other’s infrastructure, pursue commercial opportunities as a partnership. This strives towards a borderless experience for business and consumers alike, promoting digital payments and settlements for exports and digital commerce across Pakistan.
Checkout.com is a global integrated payment provider that offers reliable payments in more than 150 different currencies, in-country acquiring, robust fraud filters, and reporting – all accessed through a single point of integration.
They accept payments from all major international card schemes, including Visa, MasterCard, American Express, and UnionPay as well as popular alternative and local payment methods. Checkout.com brings a unified offering of all the prominent international payment methods and wallets such as PayPal, Wechat, ApplePay, and GooglePay to pay to merchants and businesses in Pakistan.
NIFT ePay, on the other hand, is the first domestic payment gateway for Pakistan. “NIFT ePay” allows for the aggregation of all different digital payment instruments available in Pakistan. It enables consumers to pay for e-commerce purchases or against business invoices digitally, securely and conveniently through a growing network of merchants, businesses, participating banks and other financial institutions.
Guillaume Pousaz, CEO of Checkout.com said: “We bring the leading connected payments and innovative services to the fastest-growing markets. We are proud to partner with NIFT. Pakistan represents one of the biggest opportunities for global enterprise companies and is home to some of the most innovative businesses in the region. Together with NIFT, we’ll offer seamless localized payments, supporting merchants with better customer experiences and more revenue opportunities.”
Speaking at the occasion Haider Wahab – CEO NIFT said “We are extremely delighted to have Checkout.com as global payment enabler to our NIFTePay Platform. This is a great milestone for NIFT ePay and Pakistan’s vision to promote commerce beyond borders through digital platforms and payment options assisting SBP and Ministry of Commerce efforts on ease of doing business and global trade.”
“This would strongly support the vision of allowing Pakistani exporters to collect payments through different local and international payment instruments. The collaboration is not only important for NIFT but also creates value for the Pakistan’s digital payment landscape,” he added.