TPS, a P@SHA member company and an architect of 1Link and IBFT service, has now enabled another innovative national level digital payment platform NIFT ePay, a new-age domestic payment gateway in the country. TPS is a strategic business and technology partner of National Institutional Facilitation Technologies (PVT) Limited (NIFT – another member of P@SHA) for promotion of online payments in the country.
NiFT ePay – a domestic and new-age payment gateway is aimed to build trust amongst the payers and payees and make it possible for Pakistanis to make online payments, securely and conveniently, while removing the current limitation of international scheme payment cards as the only online payment source.
This fintech, NiFT ePay is a major step towards promoting pre-payments in e-commerce and this shall see ecommerce and online payments market grow to their full potential and CoD payments replaced with more secure, efficient and cost effective method.
NIFT (National Institutional Facilitation Technologies) is Pakistan’s only cheque clearing house and it is fast modernizing its services and has also rolled out image based cheque clearing lately leading to cheque truncation in the future.
NIFT ePay is a SBP licensed PSP/PSO which makes it possible for around 135mn electronic payment instruments for direct e-commerce and online payments. NIFT ePay aggregates all available conventional as well as alternate payment methods including international and domestic payment cards, bank accounts and mobile wallets for customers to pay for their e-commerce purchases online securely and conveniently.
“NIFT ePay is a success story of two local, successful companies coming together for disrupting the e-commerce landscape of Pakistan. Getting commercial approval is a big milestone in the journey towards Cashless Pakistan. NIFT ePay has a true potential to help the country realize its dream of Digital Pakistan and to support the SBP in its national payment systems strategy success and digital financial inclusion.” Shahzad Shahid, CEO TPS.
Haider Wahab – CEO NIFT commented on their partnership with TPS “The strategic partnership has enabled us to be nimble and innovative at the very core of our thought process. TPS has not only enabled NIFT ePay with theirtechnological stack but have also helped strategically with their support and innovative design thinking.”
We congratulate TPS Worldwide along with NIFT for their remarkable achievement and wish them luck for a prosperous and progressive future filled with a myriad of business opportunities ahead.