Saturday, January 28, 2023

Citibank and NIFT Make a Referral Agreement to Promote Digital Financial Services in Pakistan

Citibank N.A., Pakistan (Citi) and National Institutional Facilitation Technologies Private Limited recently signed a referral agreement to promote digital financial services (NIFT).

With the agreement between Citibank and the National Institute of Financial Technology (NIFT). Citibank will use the NIFT ePay electronic payment gateway to offer its clients a variety of digital ways to pay.

NIFT ePay, a Payment System Operator and Payment Service Provider (PSO/PSP) in Pakistan. Given a license by the State Bank of Pakistan. It lets businesses get payments from bank accounts, wallets, credit cards, and also debit cards. This deal, which gives companies customized digital tools for collecting payments, is also expected to help e-payments in Pakistan.

Citibank N.A., Pakistan’s Managing Director, and Citi Country Officer Ahmed Bozai said, “This will make it possible for our clients to use reliable and also secure electronic receivables solutions. It will also help improve the digital payment and collections landscape of the country.” It will let us give our clients electronic receivables solutions they can trust and that are safe.)

We want to make more banking services in Pakistan digital. Also, Citi’s deal with NIFT will help us do that,” he said.

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The CEO of NIFT, Haider Wahab, said, “We are happy to sign a referral contract with Citi. Which is one of the best foreign banks in Pakistan”. NIFT ePay is a way for businesses that do their business online to accept online payments.

He also said that “this referral agreement will make it easier for the country to accept digital payments.”

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