Friday, April 19, 2024

BankIslami goes live on PayFast to digitize payments across Pakistan

PayFast, the first payment gateway to receive Commercial Approval from the State Bank of Pakistan, has announced a strategic partnership with BankIslami, allowing its customers to make online payments through their Bank Account Numbers. BankIslami is one of Pakistan’s leading Islamic Banking institutions in terms of introducing technological advancements for the convenience and facility of its customers.

BankIslami’s accountholders will now be able to make online payments on PayFast’s vast merchant ecosystem. This partnership aims to expedite PayFast’s mission towards empowering Pakistanis with secure, frictionless online purchases.

In addition to bank account numbers, PayFast allows customers to make real-time payments through payment cards and mobile wallets on any of its clients, which includes E-commerce retailers, marketplaces, schools, and billing entities. The collaboration signifies an evolution of Pakistan’s digital financial landscape to support digitization of the economy.

Commenting on the affiliation, Adeel Khan – Head of Digital Channels, BankIslami, stated; “Digital finance has become the cornerstone for economies that are bracing for progress in the times to come. At BankIslami, we’ve always been at the forefront of bringing innovation to the country’s financial landscape and providing convenience and ease of access in all our services. This collaboration with PayFast is another step along this journey.”

Adnan Ali – CEO, PayFast stated, “As Pakistan moves towards becoming a cashless society, BankIslami has always prioritized providing its customers with the unmitigated benefits of online payments. We welcome them to the PayFast ecosystem and allowing them to embrace digitization of modern transactions for their valued customers.”

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