APPS, Summit Bank collaborate

KARACHI: Avanza Premier Payment Services (APPS) signed an agreement with the Summit Bank at the Bakht Tower to enable Payfast, APPS’ end-to-end payment gateway, providing a secure and reliable environment for online payments, a statement said on Tuesday.

With Payfast, Summit Bank customers will be able to transact online using their account numbers and debit cards with a wide variety of APPS’ partner merchants, ranging from schools and billers to mutual funds, marketplaces, and other entities, it added.

Summit Bank has a network of 193 branches across Pakistan. The bank believes in fulfilling its commitment to customers and is guided by an eminent board of Shariah scholars and practitioners with extensive experience in the field. Their reach in 23 cities offers Islamic banking opportunities with an extensive range of products and services.

APPS is a start-up fintech governed under the PSO / PSP regulation of the State Bank of Pakistan (SBP), with the objective to deploy an Online Payment Gateway and to act as a catalyst for the digitalisation of brick-and-mortar SMEs within Pakistan, it said.