Recently, Askari Bank and NayaPay announced a deal to boost digital payments in Pakistan. NayaPay, as an Electronic Money Institution (EMI), allows consumers to open E-money accounts in a few easy steps.
E-money account holders may use the NayaPay app and accompanying debit cards to make digital payments, which are accepted at ATMs and businesses across Pakistan.
Askari Bank’s Digital Banking Strategy includes offering consumers new and creative digital ways of transactions.
Customers of Askari Bank will be able to link their Askari Bank account to their NayaPay wallet for easy money transfers across accounts and merchants will be able to unload payments to their specified Askari Bank account as a result of this agreement.
On the NayaPay app, consumers and companies may pay verified merchants using their associated accounts.
Danish Lakhani, CEO of NayaPay, spoke at the event and remarked, “At NayaPay, we are building an indigenous digital platform to address the everyday payment pain-points of Pakistani citizens.”
“The partnership between Askari Bank and NayaPay is a step towards an enabling environment that fosters innovation and transparency to create value for our collective customers,” he added.
Syed Jafar Raza Rizvi, Acting Head Corporate & Investment Banking, Askari Bank, said, “Askari Bank is a firm believer that synergies within a financial ecosystem would not only benefit the consumers but will also assist in achieving the financial inclusion objective.”
“The interplay of technology and financial services would only grow in coming years. At Askari Bank, we are delighted to sign up NayaPay as one of our partners,” he added.