Askari Bank Signs Agreement With NIFT for Digital Financial Services

Askari Bank and NIFT have signed an agreement for digital commerce payments (mobile/electronic) through NIFT's DFS platform under the brand name NIFT ePay.

NIFT ePay's primary focus is to execute interoperable and secure digital commerce payments using any bank account and wallet in Pakistan. This provides an opportunity for customers to conduct e-commerce transactions without a Debit or Credit Card directly through their accounts maintained with any member bank of NIFT e-Payment gateway.

The agreement was signed by Mr. Asim Bashir, Country Head Digital Banking Askari Bank and Mr. Haider Wahab, CEO NIFT in the presence of teams from both organizations.

Speaking on the occasion, Mr. Asim Bashir said,

Askari Bank is pleased to partner with NIFT for NIFT ePay services. This arrangement will not only empower AKBL customers to make E-Commerce and Corporate Payments but will also allow Askari Bank to enter into Online acquiring business.

Mr. Haider Wahab remarked,

Pakistan's digital payment space continues to grow exponentially over the last decade. NIFT has been providing consistent services to the financial industry over the past two decades and its time that we play our role in creating a reliable, secure, and interoperable digital payments eco-system that enables different digital payments in Pakistan. We are very excited with our partner banks to offer a new range of Digital Financial Services providing the level of services that is expected from NIFT by the industry. We are pleased to sign up for Askari Bank as an Issuer and Acquirer for NIFT ePay services, enabling Askari account holders to make payments on the NIFT ePay Platform through their bank accounts and also allowing Askari Bank to offer online collections to its corporate and business relationships. Askari Bank maintains its niche in the financial services space and has a great potential in digitizing payments and collections in partnership with NIFT.

Source: Pro Pakistani