In a strategic move to enhance digital payments in Pakistan, Bank of Khyber (BoK) and NIFT ePay have reunited. Through this partnership, BoK customers will now have the convenience of making digital payments to over 400 NIFT ePay merchants using their bank accounts.
The collaboration enables BoK to offer credit and debit card acceptance services to merchants, empowering them to process online payments seamlessly through the NIFT ePay payment gateway.
Moreover, NIFT ePay partner banks’ existing customers can now send digital payments to potential BoK merchants, fostering a financially accessible and inclusive environment.
This alliance between BoK and NIFT ePay not only strengthens Pakistan’s payment ecosystem but also caters to the growing demand for fast, secure, and effortless online transactions across various merchant platforms. Customers will benefit from an improved digital lifestyle and shopping experience.
Established in 1991 under an Act approved by the Provincial Legislative Assembly, Bank of Khyber earned the designation of a scheduled bank in September 1994. BoK has a strong presence in commercial and business circles, catering to the financial needs of various sectors through sponsored and unfunded facilities.
As a commercial bank with an “A+” rating, BoK operates nationwide with a network of 216 locations and continues to expand its reach. The provincial government is its primary stakeholder, and the bank has played a pivotal role in the development of Khyber Pakhtunkhwa and contributed significantly to Pakistan’s overall economic growth for over 26 years.
NIFT ePay, one of the largest Payment System Operators (PSO)/Payment Service Providers (PSPs) for digital financial services, holds approval and a license from the State Bank of Pakistan (SBP). Supported by NiFT (National Institutional Financial Technologies Pvt. Limited), the only automated check clearing house in Pakistan, NIFT ePay enables consumers to conduct digital transactions using any bank account, Visa and MasterCard credit/debit cards, and wallets in a secure and practical manner.
NIFT ePay’s objective is to serve as a comprehensive platform for various digital financial services, aligning with the State Bank of Pakistan’s financial inclusion goals.
Asim Bashir, Group Head of Digital Banking at Bank of Khyber, expressed enthusiasm about the partnership, stating, “Bank of Khyber is dedicated to facilitating and expediting its customers’ digital lifestyle.” He emphasized that the collaboration would not only offer BoK customers access to a wide range of online merchants but also ensure secure, easy, and instant payments, thereby enhancing their digital experience and making a stronger digital impact.
Haider Wahab, CEO of NIFT, also shared his excitement about the collaboration, saying, “We are pleased to engage with BoK to promote the use of Digital Financial Services in Pakistan.” Wahab stressed NIFT ePay’s focus on digital connectivity, convenience, and security, and the collaboration with BoK will enable broader access to secure digital payments, fostering financial inclusion.
Congratulations to the teams at Bank of Khyber and NIFT ePay for their joint efforts to advance financial inclusion and empower the people of Pakistan through seamless digital transactions.