PayFast pilot operation approved

KARACHI: State Bank of Pakistan (SBP) has granted approval for pilot operation to Avanza Premier Payment Services (Pvt) Limited (APPS), for ecommerce payment gateway PayFast, a statement said on Friday.

Commenting on this development Syed Adnan Ali, CEO of Payfast, said, “Digitalisation is our ambition and an indispensable need of society particularly after the COVID-19 pandemic”.

“Our Vision is to provide Intuitive, reliable and a high standard solution to our valued partners and consumers while contributing toward the of the economy. We are very passionate that PayFast will act as a catalyst to digitalize the economy and will lead Pakistan towards cashless journey.”

The statement said PayFast had already received a vote of trust, as its portfolio of partner banks comprised Allied Bank, Askari Bank, Bank of Punjab, Dubai Islamic Bank, Faysal Bank, Finca MicroFinance Bank, HabibMetro Bank, Summit Bank, UBank, JS Bank, Telenor Bank, and NRSP Bank.

The merchant count had also climbed steadily and has crossed the 150 mark. At this pace, PayFast is all set to achieve new heights very soon, it added.