NBP signs agreement for establishment of National Payment System

| | No Comments


STAFF REPORT ISB: To foster the digital banking initiatives of National Bank of Pakistan (NBP) and UPaisa; NBP, Ufone and Ubank mutually signed an agreement. The agreement entails cooperation of the organizations to jointly create National Payment System in order to benefit common people by facilitating payments and collections.


Syed Ahmed Iqbal Ashraf CEO and President of NBP while speaking at the agreement signing ceremony said, “The merits of financial inclusion are strongly rooted in empowerment. Access to financial services is a key link between economic opportunity and economic outcome. By empowering individuals and families to cultivate economic opportunities, financial inclusion can be a powerful agent for strong and inclusive growth. This collaboration is part of NBPs strategy to facilitate customers by developing a National Payment Eco-System allowing customers to avail any P2G and G2P services 24/7 through all available Digital Channels”


Abdul Aziz, President and CEO of Ufone remarked, “We feel privileged to be able to extend our financial virtual/digital payment solution; UPaisa to NBP; also to play our part in the digitization of the whole ecosystem which would facilitate segments that carry out financial transactions on a daily basis saving time, money and precious resources.”


UPaisa will also be providing all advanced services including Utility Bill Payment, InterBank Funds Transfer, balance inquiry of NBP account, mini statement of NBP account, through a mobile phone to all NBP customers.


--

Short Link: http://www.technologytimes.pk/?p=13668