Wednesday May 22, 2024

EFU Life, NIFT sign agreement for ePay

April 20, 2021

KARACHI: To accelerate digital payments in Pakistan, EFU life signed an agreement with National Institutional Facilitation Technologies (NIFT) and has become the first Insurance company for enabling digital payments through NIFT ePay which is the epayment gateway offered by NIFT, one of the largest payment processors in Pakistan for enabling digital payments (mobile/electronic commerce payments) through NIFT’s DFS platform.

NIFT ePay launched account based e-commerce payment platform which is gradually being adopted by leading businesses in Pakistan in several business verticals. The flexible pricing regime and the ability to customize solutions to enable payments across various use cases is a key upside for the NIFT’s epayment gateway. NIFT ePay has enabled EFU Life’s policyholders to pay their insurance/takaful premiums directly through their bank accounts or wallets on EFU Life’s website.

The agreement was signed by Mr. Haider Wahab, CEO – NIFT and Mr. Zain Ibrahim, COO – EFU Life at the head office of EFU Life. In the presence of Mr. Ashfaque Ahmed General Manager IT EFU Life, Mr. Ahmar Hasan , Senior Manager Innovations EFU Life along with Fawad Abdul Kader Head of Digital Financial Service and Mr. Imran Korai , Head of Business Development NIFT. ****