Askari Bank and NayaPay recently signed an agreement to promote digital payments in Pakistan. As an e-money institution (EMI), NayaPay allows users to open e-money accounts in a few easy steps.
E-money account holders can make digital payments by accessing their balance through the NayaPay app and its linked debit cards, accepted at ATMs and stores across Pakistan.
For Askari Bank, offering customers new and innovative digital transaction options is part of its digital banking strategy.
Through this partnership, Askari Bank customers can link their Askari Bank account to their NayaPay wallet to enable convenient money transfers between accounts and allow merchants to transfer funds to their designated Askari Bank account.
Consumers and businesses can use their linked accounts to pay at verified merchants through the NayaPay app.
Syed Jafar Raza Rizvi, Acting Head Corporate & Investment Banking, Askari Bank, said, “Askari Bank strongly believes that synergies within a financial ecosystem not only benefit consumers but also help achieve the goal of financial inclusion.”
“The interaction between technology and financial services will only increase in the coming years. We at Askari Bank are delighted to have NayaPay as one of our partners,” he added.
Speaking on occasion, Danish Lakhani, CEO of NayaPay, said, “At NayaPay, we are building an indigenous digital platform to solve the daily payment problems of Pakistani citizens.”
“The partnership between Askari Bank and NayaPay is a step towards creating an enabling environment that promotes innovation and transparency to create value for our mutual customers,” he added.