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HomeTechNIFT and JS Bank Partners to encourage Digital Financial Services in Pakistan

NIFT and JS Bank Partners to encourage Digital Financial Services in Pakistan

JS Bank has signed an agreement with National Institutional Facility Technologies (NIFT) to enable digital services commercial payments under the NIFT ePay brand through the DIF NIFT platform. Haider Wahab, CEO of NIFT and Noman Azhar, Chief Digital Officer of JS Bank signed the agreement in the presence of the staff of both the organizations.

Now, customers without debit or credit cards can make e-commerce transactions through their accounts with any member bank of NIFT e-payment gateway. On the other hand, banks acquire the ability to offer a digital platform for all collection mandates through local payment gateways based on accounts.

This partnership is yet another step in JS Bank’s efforts to provide digital payment channels to retail customers while offering payment and collection platforms to businesses.

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Noman Azhar, Chief Digital Officer JS Bank stated, “Through this partnership. JS Bank aims to enable an inclusive financial system for customers who are currently unable to engage in e-commerce transactions due to a lack of a debit or credit card. Our customers are now free to make online payments via their account thereby providing a seamless and frictionless customer experience. Furthermore, we foresee the considerable potential for online payments collection and this partnership will play a key role in that effort.”

Speaking on the occasion, Haider Wahab, CEO, NIFT said, we are delighted to onboard JS Bank having a defined digital payments strategy on NIFT ePay payment gateway. “Pakistan’s digital payment space continues to grow exponentially over the last decade. NIFT has been providing dependable clearing services to the financial industry over the past two decades.”

“In the e-commerce space, NIFT is creating a reliable, secure, and interoperable digital payments eco-system NIFT ePay platform which enables different digital payments use cases in Pakistan. We are very excited with our partner banks to offer a new range of Digital Financial Services providing the level of services that are expected from NIFT by the industry.”, he added.

With this collaboration, JS Bank & NIFT have allowed customers to access digital payments through NIFT platforms.

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