Paymob, NIFT sign agreement to securely enable digital payments in Pakistan.

ISLAMABAD -- Paymob, leading omni-channel financial services platform in the MENAP region, signed an agreement with National Institutional Facilitation Technologies (NIFT) to facilitate digital transfer and payments in the country.

Under the agreement, Paymob will enable digital payments for their merchants using the NIFT ePay platform which supports account, wallet and card-based payments.

Paymob's payment infrastructure enables SMEs to accept digital payments online and in-store whilst providing them better access to financial services. As an API integrator, Paymob's gateway sits on merchants' websites to facilitate payment capture.

In addition to conventional bank cards, Paymob merchants will have access to mobile wallets, QR payments, bank card installment plans, and Buy-Now Pay-Later (BNPL) options all of which serve to drive an increased volume of transactions and revenue.

Paymob plans to extend its Tap-on-Phone payment acceptance service to the Pakistan market. The company will also launch cards to enable B2B transactions for its merchants and build tools for merchants to better manage and grow their business.

NIFT was established in 1995 as a joint venture between six major Pakistani banks and entrepreneurs from the private sector.

It is the leading Payment System Operator (PSO) in Pakistan for cheque clearing and is the country's foremost Digital...