Allied Bank Limited (ABL) and Avanza Premier Payment Services (APPS) have collaborated to revamp online transactions through PayFast; APPS’ payment gateway. PayFast will allow the customers of ABL to shop on APPS’ vast merchant network which ranges from schools, billers, mutual funds, marketplaces and other entities via their, bank accounts.
Allied Bank is the 5th largest commercial bank in Pakistan having over 75 years of experience of providing innovative banking products and services catering to conventional, Islamic and digital banking requirements. The Bank is operating with a robust equity, asset and deposit base. Allied Bank serves a diverse range of retail and corporate customers through an extensive network of 1350+ branches and 1388 ATMs. The Bank has also been assigned the highest long-term AAA entity credit rating by PACRA.
APPS is a start-up fintech governed under PSO/PSP regulation of the State Bank of Pakistan (SBP), focused on becoming a catalyst of digitization in Pakistan by transcending into a digital payment switch for the enablement of various online services such as Mobile Payments, P2P transfers, E-Commerce and creating an entire payment trail for Pakistan’s digital economy.
Mr. Adnan Ali, CEO – APPS, said, “We go beyond cash by empowering customers through services that enable seamless digital payments, through our digital ecosystem. This signing signifies an important milestone as Allied Bank ranks amongst the top banks in Pakistan. We will be working in unison towards mainstreaming how online payments are conducted while promoting Pakistan’s digital economy and Going Cashless.”
Mr. Muhammad Zaman, Group Head Digital Banking – ABL, said, “ABL is focused on enabling digital payments for customers of all segments. Partnership with APPS is yet another step to expand the digital payments ecosystem of the bank. We hope that this initiative will greatly help to expand digital payments in Pakistan.”