Karachi (Muhammad Yasir) Meezan Bank, Pakistan’s Best Bank, and MYGLU Pvt. Ltd., a wholly owned subsidiary of MYGLU LLC in the United States that provides next-generation business solutions through integrated information technology products and services, have formed a strategic partnership to enable MGPay POS payment services. According to the newly inked deal, MGPay will act as an independent sales organisation for Meezan Bank, deploying POS machines and signing up new merchants.
MYGLU will function as a connection between merchants, issuers, and payment networks for the Bank, providing them with state-of-the-art POS equipment, while MGPay will focus on targeting new customer groups, facilitating conversion to digital payments beyond traditional offers.
“Fintechs have enormous potential, and Meezan Bank is happy to partner with MYGLU,” stated Mr. Ariful Islam, Deputy CEO of Meezan Bank. Insha’Allah, we are certain that this collaboration will hasten the launch of our POS network, and we intend to become a prominent player in the acquiring sector in the next five years.”
Ms. Saima Manzoor – COO and Co-Founder, MYGLU said, “The company, with its payments brand, MGPay, intends to capture and revolutionize the payments market in Pakistan by building on exceptional services and by developing a digital infrastructure that would harness growth for customers and partners.”
Mr. Qaisar Baryar – Director and Co-Founder, MYGLU said, “The signing with Meezan Bank marks the launch of a collaboration which aims to aggressively build on the current policy interest and momentum in fintech and truly transform the retail industry in Pakistan. MGPay offers number of payment solutions and products for merchants to add value and transform businesses.”