BankIslami, in line with its vision to enable and promote cash-less and digital payments, becomes the first Islamic bank to go live with NIFT ePay. National Institutional Facilitation Technologies (NIFT), one of the largest payment processors in Pakistan launched its services for enabling digital commerce payments (Mobile, Electronic Commerce Payments) through NIFT’s DFS platform under the brand name “NIFT ePay” last year.
The partnership would allow BankIslami’s accountholders, access to digital merchants available under NIFT’s ePay platform, as well as enable the merchants, businesses and institutions with BankIslami to collect digital online payments from accountholders of other institutions.
NIFT ePay provides an opportunity to BankIslami’s customers to conduct e-commerce transactions directly through their accounts. BankIslami and NIFT together will be creating various e-commerce activities using interoperable account based digital commerce being offered by NIFT ePayment Gateway. The agreement opens up new opportunities for both organizations to build new digital e-commerce activities.
‘BankIslami’ is a prominent Islamic bank in Pakistan with branch network of over 340+ branches operating in 114+cities nationwide, working in the Corporate, Retail and Consumer Banking segments. BankIslami is focused in providing digital channels to both its retail and business customers for making digital payments and has been taking lead in providing digital solutions to businesses.
The agreement was signed by Mr. Haider Wahab, CEO NIFT and Mr. Bilal Fiaz, Group Head – Consumer Banking, BankIslami. Mr. Haider Wahab, CEO NIFT added, “We are pleased to sign up with BankIslami on NIFT ePay to provide innovative digital banking products to account holders and also help their business relationships in availing digital collection solutions. We are confident that the partnership between BankIslami and NIFT will create innovative digital e-commerce activities under Islamic Banking services.”
Speaking on the occasion, Mr. Bilal Fiaz, Group Head of Consumer Banking, BankIslami welcomed the initiative by NIFT to promote e-commerce transactions. He further added “BankIslami is focused on providing innovative digital solutions for its customers by adding new technology platforms; this partnership with NIFT will provide secure digital payments to BankIslami Customers through their bank accounts on various e-Commerce websites in Pakistan.”