Samba Bank Limited and NIFT signed an agreement to enable digital e-commerce payments via NIFT’s Digital Financial Services platform under the brand name “NIFT ePay”. This provides an opportunity to the accountholders of Samba Bank to conduct e-commerce transactions directly through their transactional accounts. This arrangement would also allow the bank to offer a digital online platform to all their collection mandates through an account-based local payment gateway. The agreement was signed by NIFT CEO Haider Wahab and Samba Bank President and CEO Shahid Sattar in the presence of team members of both organisations. Speaking on the occasion, Wahab said, “Pakistan’s digital payment space continues to grow and digitalisation has also become a necessity in the post-Covid market dynamics. Meanwhile, NIFT is ready to play a role in creating a reliable, secure and interoperable digital payments eco-system, which enables different digital payments use cases in Pakistan. We are pleased to sign an agreement with Samba Bank as an issuer and acquirer for NIFT ePay services.”
Published in The Express Tribune, August 1st, 2020.
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