Allied Bank launches NIFT ePay

LAHORE: Allied Bank has launched National Institutional Facilitation Technologies (NIFT) ePay for its consumers in an effort to promote Digital Payments in Pakistan in the backdrop of the COVID-19, a statement said on Monday.

The NIFT is an existing Payment System Operator/Provider (PSO/PSP) offering nation-wide cheque clearing services, has launched its eCommerce Payment Gateway under SBP’s rules for Payment System Operators and Payment System Providers (PSO/PSP), the statement said.

It added that NIFT ePay’s primary focus was to execute interoperable and secure digital commerce payments for large number of banking customers in Pakistan. This provides an opportunity to customers to conduct eCommerce transactions directly through their bank accounts or Wallets. Commenting on the development, Sohail Aziz Awan, Chief Digital Banking Allied Bank, said the bank was continuously realigning towards digital transformation by adopting robust technology platforms and expanding outreach.

Haider Wahab, CEO-NIFT, termed it a milestone for NIFT and the payments industry. “I believe this is history in the making, which would have a very positive impact on the payment landscape in Pakistan,” Wahab said.