Bank of Khyber and NIFT ePay once again join hands to propel digital payments in Pakistan. This partnership is an extension to an existing arrangement in which BoK customers can make digital payments to 400+ NIFT ePay merchants using their bank accounts.
The recent partnership has enabled BoK to offer credit and debit card acceptance services to their merchants. This will allow their merchants to use NIFT ePay payment gateway for accepting digital payments using credit and debit cards.
Alongside this, existing customers of NIFT ePay partner banks will be able to make digital payments to potential BoK merchants, thus shaping a financially enabling and inclusive environment.
The strategic initiative between BoK and NIFT ePay will not only boost Pakistan’s payment ecosystem but also meet the customers’ expanding needs for convenient, secure, and instant online transactions on all merchants’ platforms. This will aid their digital lifestyle and their consumer journey.
The Bank of Khyber was established in 1991 through an Act passed by the Provincial Legislative Assembly. It was awarded the status of a scheduled bank in September 1994.
The Bank has long been associated with business and commercial circles and has been actively engaged in catering to the financial needs of all sectors. It has successfully been involved in extending funded and non-funded facilities to its customers for various business needs.
Today, BOK is an “A+” rated commercial bank, operating across the country with a network of 216 branches and still expanding.
The provincial government is the major stakeholder and during our 26+ years of history, the Bank has always played a vital role in the development of Khyber Pakhtunkhwa in particular and participated in the economic development of Pakistan in general.
NIFT ePay is one of the biggest Digital Financial Service Providers (PSO/PSP), approved and licensed by the State Bank of Pakistan (SBP). It is backed by NiFT (National Institutional Financial Technologies (Pvt.) Limited), the only automated cheque clearing house in Pakistan.
NIFT ePay provides a convenient and secure unified digital financial service platform allowing consumers to make digital transactions via any bank account, Visa and MasterCard credit/debit cards, and wallets in Pakistan.
The vision of NIFT ePay is to provide a one-window solution for all types of digital financial services and play its role in the financial inclusion mission of the State Bank of Pakistan (SBP).
Commenting on the partnership, Asim Bashir, Group Head Digital Banking – Bank of Khyber, said, “Bank of Khyber is committed to enabling and accelerating its customer’s digital lifestyle.”
“The partnership between Bank of Khyber and NIFT ePay will not only provide accessibility to BoK customers but will also ensure easy, secure, and instant payments across a host of online merchants thus, enhancing our customers’ digital experience and their digital footprint,” he added,
Commenting on the partnership, Haider Wahab, CEO – NiFT, said, “We are delighted to collaborate with BoK for expanding the usage of Digital Financial Services in Pakistan.”
“Digital connectivity, convenience, and security have always been the top priority of NIFT ePay’s vision, and by partnering with BoK, we can expand our reach to the masses and facilitate them in making Digital Payments securely. Congratulations to the teams of BoK and NIFT ePay in their joint effort for making people financially inclusive,” he added.
