In line with Faysal Bank’s vision to offer digital payment services and encourage e-commerce & online transactions, the bank has entered into an agreement with National Institutional Facilitation Technologies (NIFT), one of the largest payment processors in Pakistan for enabling mobile & e-commerce payments through NIFT’s ePay.
NIFT ePay is establishing an interoperable and secure digital commerce payment using cards and bank accounts in Pakistan. This provides an opportunity for customers to conduct e-commerce transactions directly through their cards or accounts.
This partnership would allow Faysal Bank customers to access thousands of digital merchants available under NIFT’s ePay platform and conduct secure e-commerce transactions directly through their cards and bank accounts.
Faysal Bank’s vast corporate portfolio will also benefit from the enablement of an Online Payment Gateway to collect online payments easily & securely from anywhere in Pakistan.
Speaking at the signing ceremony, Mr. Shaheryar Saeed Khan, Chief Digital Officer said, “Our agreement with NIFT ePay reinforces FBL’s strategic vision to further enhance digital payment services for our customers. This collaboration will broaden and strengthen the digital eco-system for individual customers to make payments and support corporate customers by digital payment acceptance for their business growth.”
Speaking on the occasion, Mr. Haider Wahab, CEO, NIFT said, “We are pleased to collaborate with Faysal Bank and bring them onboard for a secure and reliable digital payments eco-system for customers. We believe this strategic alliance will facilitate the customers in quickly moving towards and adopting digital payment acceptance for growing their business.” We look forward to working on more use cases with Faysal Bank digital team in enriching the customer experience.
The signing ceremony held at Faysal Bank Head Office Karachi was also attended by Fahad Mirza, Head of Eco-Systems & Partnerships and Amin Ur Rahman, Head of Digital Products & Payments at Faysal Bank, Syed Faraz Javed, GM – Digital Financial Services of NIFT ePay.
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 a 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 NIFT ePay:
NIFT ePay is the brainchild of National Institutional Facilitation Technologies (NIFT) and is a licensed PSO/PSP, regulated by the State Bank of Pakistan (SBP). NIFT ePay provides a digital payment platform for e-Commerce/online payments and B2B payments using a bank account, credit/debit cards, and wallet accounts. NIFT is the pioneer and the largest transactional clearing facilitator in Pakistan since 1995, offering efficient and cost-effective automated cheque clearing. As the First Certificate Authority (CA) in Pakistan, NIFT provides Public Key Infrastructure (PKI) based security solutions like digital certificates and signatures for financial institutions, businesses, and Government entities. NIFT also assists entities with specialized projects such as image-based solutions, data digitization, and support services.
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