Corporate corner Bank Alfalah, NIFT collaborate

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 realisation 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. Bank Alfalah leads this partnership in expanding payment options not only for its own account holders who are now enabled for ecommerce but also for industry wide account holders by connecting its ecommerce merchant base to NIFT ePay. NIFT, a trusted name in cheque clearing, is looking to bring innovation to the payments space by introducing new transaction opportunities for banking customers by taking advantage of its market presence and technological capability.

Published in The Express Tribune, July 31^st, 2020.

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