Faysal Bank, and Tez Financial Services, a ZoodPay Company, have partnered to launch a suite of digital financial services featuring a virtual payments card, a merchant enablement ecosystem and other digital payments solutions. Through this collaboration, Faysal Bank and Tez Financial Services will be able to move ahead in the mission of expanding financial inclusion & digital penetration in Pakistan targeting the underbanked population.
Faysal Bank through its Fintech Express Program is driven on creating partnerships with EMI and Fintech to further encourage State Bank’s financial inclusion initiative in Pakistan. Faysal Bank offers a digital & innovative product suite that will accelerate the innovative financial digital services for Tez Financial Services in Pakistan. Fintech Express program is focused on identifying and fostering Fintechs and Startups with promising and innovative technologies to facilitate the customer’s digital journey.
Speaking at the signing ceremony, Mr. Shaheryar Saeed Khan, Chief Digital Officer, FBL said, “Faysal Bank is eager to create partnerships to support EMI and Fintech in Pakistan. This agreement with Tez Financial Pakistan shows our commitment to offer innovative, digital solutions to facilitate development and expansion of digital ecosystem in Pakistan.”
Commenting on the partnership, Ms. Naureen Hyat CEO, Tez Financial Services (ZoodPay Pakistan), said, “This collaboration will enable us to build upon Faysal Bank’s payment rails to scale an agnostic digital platform where consumers will be able to transact in installments anywhere, anytime without being restricted exclusively to the Zood network of online and offline stores. We continue to focus on developing and strengthening ecosystem partnerships with multiple players that bring expertise and economies of scale in their respective domains.
The signing ceremony held at Faysal Bank Head Office Karachi was also attended by Fahad Mirza, Head of Digital Products & Channels at Faysal Bank, Michael Khoi, Founder of ZoodPay and Humza Hussain, Chief Operating Officer of Tez Financial Services (ZoodPay Pakistan).
Faysal Bank Limited was incorporated in Pakistan on October 3rd, 1994 as a Public Limited Company under the Companies Ordinance, 1984. The Bank’s shares are listed on Pakistan Stock Exchange. Faysal Bank is engaged in Commercial, Retail, Corporate and Digital Banking activities in a Shariah compliant manner which is governed by strong team of qualified Shariah scholars. Faysal Bank’s footprint now spreads over more than 220+ cities via a network of over 640 Islamic branches across Pakistan
About Tez Financial Services:
Tez Financial Services is an NBFC which has recently been acquired by ZoodPay, which is a leading digital platform for e-commerce in the Middle East and Central Asia, serving the underbanked merchants and consumers. ZoodPay recently ventured into Pakistan with the acquisition of Tez Financial Services, and it is expanding its footprint in the country through an end-to-end ecosystem with digital, e-commerce and e-logistics services
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