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Faysal Bank Limited (FBL) and Bank of Khyber have partnered to launch a suite of digital financial services featuring virtual & debit card services along with added digital payment solutions. Faysal Bank through its Fintech Express Program is driven by creating partnerships with Banks and Fintech to further encourage State Bank of Pakistan’s (SBP) financial inclusion initiative in Pakistan.
Faysal Banks Fintech Express Program is focused on identifying financial institutions and aiding their customers’ digital journey through innovative technologies. With this partnership, Bank of Khyber will leverage Faysal Bank’s Fintech Express Program to accelerate the customers’ digital journey and provide its customer accessibility to a host of digital solutions to aid their banking needs.
Speaking at the signing ceremony, Mr. Yousaf Hussain, CEO, FBL said, “Faysal Bank wants to be the cornerstone of the digital product revolution in Pakistan. We continue to focus on developing and strengthening ecosystem partnerships with multiple players that bring expertise and economies of scale in their respective domains. Faysal Bank’s agreement with Bank of Khyber demonstrates our commitment to facilitate other banks and startups in Pakistan.”
Speaking at the occasion, Mr.Ali Gulfaraz, Managing Director and CEO, BoK, said, “Bank of Khyber is committed to delivering ease, convenience, and universal acceptability to our customers to transact and make payments across all channels. The partnership between Faysal Bank and Bank of Khyber will help us strengthen the BoK digital ecosystem by onboarding international payment schemes and digital services that will provide a comprehensive range of payment solutions to our customers”
The signing ceremony held at Faysal Bank, Karachi was also attended by Mr. Amin Ur Rahman, Chief Digital Officer and Fahad Mirza, Head of Digital Ecosystems & Partnerships, Faysal Bank Limited, and Mr. Asim Bashir, Group Head Digital & Consumer Banking from Bank of Khyber.
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 complaint 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
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 enjoys a unique position and stands out amidst other banks operating within Pakistan and has the privilege of being bracketed amongst the only four government banks in the country. 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.
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
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.
Faysal Bank through its Fintech Express Program is driven by 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 Xpence 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 and support EMI’s and Fintechs in Pakistan. This agreement with Xpence Pakistan shows our commitment to offer innovative, digital solutions to facilitate Fintechs and startups in Pakistan.”
Speaking at the signing ceremony, Mr. Nejib Rahman, CEO, Xpence Pakistan said, “Xpence is excited to work with a progressive partner in Faysal Bank to help the next generation of business grow through the Naya Pakistan initiatives. Xpence is the future of smart business spending by empowering startups to take control of their finances through an intuitive all-in-one platform.”
Also present from Faysal Bank were Ali Waqar, Head Corporate & Investment Banking, Fahad Mirza, Head Digital Products & Channels, and from Xpence were Mr. Saad Ansari, Global CEO and Mr. Abdulaziz Al-Moosa, board member.
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
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
Fintech Express Program from Faysal Bank is focused on identifying and fostering Fintechs and Startups with promising, high-potential innovative technologies from Mastercard to facilitate the entire digital payment journey for Fintechs. Through this collaboration, Faysal Bank and OPay will be able to move ahead in the mission of expanding financial inclusion & lending penetration in Pakistan targeting the underbanked population.
Fintech Express Program from Faysal Bank is focused 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 & lending digital services for OPay in Pakistan.
Fintech Express Program from Faysal Bank is focused on identifying and fostering Fintechs and Startups with promising, high-potential innovative technologies from Mastercard to accelerate and facilitate the entire digital payment journey for Fintechs. Through this collaboration Faysal Bank and SimpliFi will be able to move ahead in the mission of expanding financial inclusion by enabling digital payments for the unbanked and underbanked SME sectors in Pakistan.
Faysal Bank has been at the forefront of digital financial services in Pakistan and SimpliFi has been enabling digital payments for businesses across MENA. This association between two industry leaders, highlights the joint vision of both parties to introduce market leading products to support businesses and contribute towards the digital payments vision set forth by the State Bank of Pakistan.
Speaking at the signing ceremony, Mr. Shaheryar Saeed Khan, Chief Digital Officer, FBL said, “Faysal Bank is eager to create partnerships and support EMIs and Fintechs in Pakistan. This agreement with SimpliFi Pakistan shows our commitment to offer innovative, digital solutions to facilitate development and expansion of the digital ecosystem in Pakistan.”
“SimpliFi has been rapidly expanding its model across the MENA region and we are excited to enter Pakistan to enable the burgeoning digital payments ecosystem in the country.” said Ali Sattar, Founder and CEO of SimpliFi. “We are confident that our partnership with Faysal Bank will empower local and international businesses in Pakistan to offer market leading solutions that drive efficiency in payments.”
The signing ceremony held at Faysal Bank Head Office Karachi was also attended by Fahad Mirza, Head of Digital Products & Channels from Faysal Bank and Tafseer ul Islam Siddiqui, Head of Engineering from SimpliFi.
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 Islamic banking activities. Faysal Bank’s footprint now spreads over more than 220+ cities. As of August 2022, the bank has a network of 639 branches of which 638 are Islamic banking branches.
SimpliFi, a leading payment enabler in MENA and Pakistan, offers businesses a one-stop solution to drive digital payments thereby helping them streamline operations, generate new revenue streams, and increase loyalty. We provide a full-stack solution consisting of APIs, SDKs, a client portal, a white-label app, and end-to-end program management capabilities.
Fintech Express program from Faysal Bank is focused on identifying and fostering Fintechs and Startups with promising, high-potential innovative technologies from Mastercard that accelerate and facilitate the entire digital payment journey for Fintechs.
Speaking at the signing ceremony, Mr. Yousaf Hussain, CEO, FBL said, “Faysal Bank wants to be the cornerstone of the digital product revolution in Pakistan. We are eager to create partnerships with EMI and Fintech and further support State Bank financial inclusion initiative in Pakistan. Faysal Bank agreement with YAP demonstrates our commitment to facilitate Fintechs and Startups in Pakistan.”
Adding on the occasion, Meharyab Niazi, CEO YAP Pakistan shared, “As we continue to work towards a more digitally inclusive world, encouraging financial inclusion only paves way for us to reach our real goal that is to improve quality of life by providing access to essential financial services. YAP is committed to bringing digital financial services to underserved communities as a way of reducing inequality, promoting prosperity, and empowering individuals. We are thrilled to be partnering with Faysal Bank in Pakistan and hope to use technology and innovative products to create value for our customers.”
Also present from Faysal Bank were Shaheryar Saeed Khan, Chief Digital Officer, Fahad Mirza, Head of Digital Products & Channels and from YAP were Imran Aslam CFO, Shahzar Anwar Head of Customer Experience.
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 Islamic banking activities. Faysal Bank’s footprint now spreads over more than 220+ cities. As of July 2022, the bank has a network of 638 branches of which 633 are Islamic banking branches.
YAP is redefining the fintech sector in the Middle East, Africa, and South Asia by creating smarter and faster financial tools. The app offers a suite of versatile features such as analytics and budget tools, card controls, easy money transfers, real-time notifications of purchases, virtual cards and more. With an extensive database of resources at their fingertips, users can go from financially inexperienced to expert money managers.
