Bike hailing service, Bykea, has entered into an agreement with National Institutional Facilitation Technologies (NIFT), one of the largest payment processors in Pakistan.
The partnership aims to enable digital commerce payments (Mobile/Electronic Commerce Payments) through NIFT’s DFS platform under the brand name “NIFT ePay”. Through the development, customers will be able to make digital payments for online services and purchases through the Bykea Platform.
Both organizations have focused to promote digital transactions in the recent past while Bykea also emphasizes the comfort and convenience of their customers, resulting in its Bykea Cash initiative being appreciated and used regularly by customers.
NIFT ePay has established an interoperable and secure digital commerce payment gateway that works with any bank account or wallet in Pakistan. This provides an opportunity for the customers of Bykea to conduct e-commerce payments directly through their bank accounts or wallets in addition to the existing card-based transactions.
The agreement was signed by Haider Wahab, CEO – NIFT, and Muneeb Maayr, CEO – Bykea at the head office of National Institutional Facilitation Technologies.
Speaking on the occasion, Muneeb Maayr, CEO Bykea, said, “The partnership with NIFT brings us closer to providing seamless payment solutions for e-commerce users in Pakistan as leveraging the payment service operators and providers that today process payments for the entire financial institutions’ ecosystem and opening their power up for SMEs is the way forward for a financially inclusive Pakistan.”
Haider Wahab, CEO NIFT, said, “Bykea is a unique use case opening up digital payments and services to go live through the NIFT’s e-Payment Gateway and we are very excited to enable these use cases. This is exactly the vision that was behind NIFT ePay and it is very heartening to see its actual manifestation in the market. We are working with different industries to enable different use cases which will follow this success.”