Citibank and NIFT partner to promote digital financial services in Pakistan

• Citibank will use NIFT ePay to provide clients digital payment options.
• Citibank N.A., Pakistan (Citi) and NIFT have agreed to promote digital financial services through referrals.
• The deal aims to give firms customized digital collecting options.

Citibank N.A., Pakistan (Citi) and National Institutional Facilitation Technologies Private Limited (NIFT) recently made a deal to promote digital financial services through referrals.

In the deal between Citibank and NIFT, Citibank will use NIFT’s electronic payment gateway (NIFT ePay) to offer its customers a variety of digital ways to pay.

NIFT ePay is a Payment System Operator and Payment Service Provider (PSO/PSP) that is licenced by the State Bank of Pakistan. It lets corporate institutions receive digital payments from bank accounts, wallets, and debit/credit cards.

The goal of the deal is to help businesses by giving them digital collection solutions that are made just for them. It will also strengthen Pakistan’s e-payment ecosystem.

Ahmed Bozai, Managing Director & Citi Country Officer, Citibank N.A., Pakistan, said about the event, “This enables reliable and secure electronic receivables solutions for our clients and helps strengthen the digital payment and collections landscape of the country.”

“Citi’s deal with NIFT will help us reach our goal of making banking services in Pakistan more digital,” he said.

Haider Wahab, CEO, NIFT, said, “We are delighted to enter into a referral arrangement with Citi, one of the leading foreign banks in Pakistan. NIFT ePay, as a digital payment gateway provides solutions and convenience in online transactions.”

“This referral arrangement will further augment the accessibility of digital payment acceptance in the country,” he added.

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