Askari bank limited has signed a memorandum of understanding (MOU) with National Institution of Facilitation Technologies Private Limited (NIFT) to enhance its digital banking offerings and to promote digital banking system in Pakistan.
The partnership will serve to ease e-commerce transactions through NIFT e-payment gateway, providing e-cheque solution to establish the platform for e-commerce business where they can use digital cheques and deposit facilities for e-commerce payments.
MUO was signed by Mr. Khurshid Zafar, Chief Operating Officer at Askari Bank and Mr Haider Wahab chief executive officer at NIFT. Mr Shehriyar Ali shah, Chief digital officer.
The partnership is aimed to bring digitalization in banking system making transactions easier for customers and support e-commerce payments digitally. It is a step ahead towards digitalization of e-commerce b2b marketplace. Building digital ecosystem to support easy payment methods for their customers.
E-commerce is the fastest growing network for selling products online. The pandemic have changed the way people live, shop and pay. Every marketplace is creating its digital identity by selling their products online. The biggest problem B2B businesses are facing is in transitions and money transfer.
Askari bank is taking great initiative to partner with NIFT to facilitate payments, this will maintain e-commerce growth; promoting digital Ecosystem for money transfer.
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