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Tuesday, February 27, 2024

HBL teams up with NIFT ePay to accelerate digital payments in Pakistan

The strategic partnership between HBL and NIFT ePay will propel Pakistan’s payment ecosystem, meet the growing need for convenient and secure online payment options on e-commerce platforms, and add another layer of ease to the online shopping experience.

HBL and NIFT ePay have joined hands to accelerate digital payments in Pakistan. Through this partnership, HBL customers will enjoy the benefits of making digital payments to more than 400 NIFT ePay partner institutions and merchants using their HBL bank accounts. Similarly, the customers of other NIFT ePay partner banks will be able to make Digital Payments to HBL merchants thus creating an expanded enabling environment.

This initiative will contribute substantially towards the uptake of digital payments in Pakistan and enable people to perform secure online purchases using their bank accounts. It will expand the pool of pre-paid customers for merchants, creating a win-win scenario for everyone.

As Pakistan’s e-commerce industry grows, HBL continues to partner with Fintechs that offer secure, quick, and convenient digital payment solutions. The strategic partnership between HBL and NIFT ePay will propel Pakistan’s payment ecosystem, meet the growing need for convenient and secure online payment options on e-commerce platforms, and add another layer of ease to the online shopping experience.

Read more: HBL and SCO sign interoperable mobile financial services agreement

Commenting on the partnership, Kamran Jaffery, Head of Digital Channels and Solutions – HBL, said, “As a technology company with a banking license, we strive to empower our clients through our suite of digital payment solutions. This partnership with NIFT ePay, enables clients with yet another option to make payments to merchants directly from their bank accounts. We believe this will fuel growth in online purchases, expanding the digital ecosystem of the country”

Commenting on the partnership, Haider Wahab, CEO – NIFT, said, “We are delighted to collaborate with HBL for expanding the usage of Digital Financial Services in Pakistan. This collaboration will enable millions of HBL customers to make digital payments to a variety of NIFT ePay merchants. Digital connectivity, convenience, and security have always been at the forefront of NIFT ePay’s vision, and by partnering with HBL, we can reach to masses and facilitate them in making Digital Payments securely. Congratulations to teams of HBL, TPS, and NIFT in ensuring smooth and early integration and enablement of services.”

To learn more about how NIFT ePay is empowering businesses and consumers, click here.

About HBL:

HBL was the first Pakistani commercial bank to be established in Pakistan in 1947. Over the years, HBL has grown its branch network and maintained its position as the largest private sector bank in Pakistan with 1700+ branches, 2200+ ATMs, 61,000+ Konnect by HBL agents (branchless banking platform), 52,000+ QR locations serving over 32 million clients worldwide. It is currently the largest Domestic Bank with a presence across major trade zones in the world. The Bank is recognized as the leading financial institution of the country for its client-centric innovation in financial services.

*These numbers are as of 30 September 2022.

Read more: HBL inaugurates Rahim Yar Khan’s first prestige lounge

 About NIFT ePay

NIFT ePay is a Digital Payment Service Provider (PSO/PSP), approved and licensed by the State Bank of Pakistan (SBP). It is one of the leading e-commerce and online payment gateways with more than 400 merchants and businesses. It is a one-stop shop for all types of digital payments allowing customers to conveniently and securely pay using bank accounts, credit/debit cards, and wallets.