Bank Alfalah and National Institutional Facilitation Technologies (NIFT) announced their strategic collaboration on NIFT’s digital financial services platform “NIFT ePay”, which is an industry first, enabling bank accounts for e-commerce across the banking industry.
NIFT’s partnership with Bank Alfalah is unique and multidimensional. The bank has supported in the realization of this new ecosystem by not only being the settlement bank for NIFT ePay, but also allowing access through its payment gateway – Mastercard’s MPGS – to NIFT ePay merchants for facilitating card transactions.
Atif Bajwa, President and CEO for Bank Alfalah, welcomed the initiative and commented, “Bank Alfalah and NIFT’s partnership in promoting e-commerce while enabling bank account holders across the banking industry is a unique and innovative initiative which will help grow the payments market significantly.
Haider Wahab, CEO-NIFT, said, “NIFT ePay has gained good momentum and has started its journey towards digitalizing the ecommerce payments in Pakistan through partnerships with leading banks. We thank Bank Alfalah for their support in this journey and understanding the power of collaboration to bring change and add value to the market.”
