NBP, Mobi Direct sign MoU for digital payment switch

ISLAMABAD: The National Bank of Pakistan (NBP) signs two Memorandum of Understanding with Mobi Direct enabling NBP to become consortium member and settlement bank and for using Mobi Direct’s digital Products.

Mr. Saeed Ahmad, President NBP said that he is very optimistic about this initiative and said that this arrangement will go a long way in fulfilling aspirations and expectations of NBP customers and account holders and will help National Bank of Pakistan in rolling out various digital products and services in future through this arrangement.

He emphasized upon achieving complete E- governance through this initiative which is the key to success for all types of businesses. The NBP is assisting all the provincial governments in digitalizing their various payments, fee and taxes collection systems. He mentioned that the NBP has already inked MoUs and agreements with various provincial and federal departments for digitally colleting their fee and payments including Directorate General of Immigration & Passports, Bureau of Emigration and Overseas Employment, Public Service Commission KPK, Islamabad Traffic Police, Driving License Sindh and Dealer Vehicle Registration System (DVRS) and collection of e-Tax in Punjab.

Saeed Ahmad further stated that after signing these arrangements, National Bank of Pakistan will be able to use Mobi Direct payment processing and transactions switching infrastructure, online payment gateway and shared agent network for promoting nationwide branchless banking and digital payments services to provide real growth to unbanked segment of population. National Bank of Pakistan will act as a “Settlement bank” for Mobi Direct’s digital payment system and for all of Mobi Direct’s consortium members and stake holders.***