BYKEA Signs Agreement with NIFT ePay for enabling Digital Payments
Bykea, in line with its strategy to enable and promote it’s online platform, has entered into an agreement with National Institutional Facilitation Technologies (NIFT). NIFT is one of the largest payment processors in Pakistan by enabling digital commerce payments through NIFT’s DFS platform, under the brand name “NIFT ePay”. This partnership will allow customers to make digital payments for online services and purchases through the Bykea Platform.
Both organizations have previously focused on promoting digital transactions in the recent past with Bykea committed to providing comfort and convenience to their customers. This was reflected in the positive feedback received by customers shortly after the launch of Bykea Cash. NIFT ePay has established an interoperable and secure digital commerce payments gateway which works with any bank account or wallet in Pakistan. This provides an opportunity to the customers of Bykea to conduct e-commerce payments directly through their bank accounts or wallets in addition to the existing card-based transactions.
The agreement was signed by Mr. Haider Wahab, CEO – NIFT and Mr. Muneeb Maayr, CEO – Bykea at the head office of National Institutional Facilitation Technologies.
Speaking on the occasion, Mr. Muneeb Maayr CEO Bykea said “The partnership with NIFT brings us closer to providing seamless payment solutions for e-commerce users in Pakistan through leveraging the payment service operators and providers that today process payments for the entire financial institutions ecosystem and opening their power up for SMEs is the way forward for a financially inclusive Pakistan”.
Mr. Haider Wahab CEO NIFT said, “Bykea is a unique use case opening up digital payments and services to go live through the NIFT’s e-Payment Gateway and we are very excited to enable these use cases. This is exactly the vision that was behind NIFT ePay and it is very heartening to see its actual manifestation in the market. We are working with different industries to enable different use cases which will follow this success.”