Meezan Bank, Pakistan’s first and largest Islamic bank, has gone live with PayFast, Pakistan’s first payment gateway, and fifth PSO/PSP overall, to receive commercial approval from the State Bank. The gateway shall allow the Bank’s customers to transact online by simply using their bank accounts.
Other than bank account numbers, PayFast allows customers to make real-time payments through payment cards and mobile wallets on APPS’ merchant ecosystem, which ranges from eCommerce merchants, marketplaces, schools, billers and more.
Mr. Adnan Ali – CEO, APPS, said in a statement, “Our aim is to bring convenience in the digital payment by providing acceptance of payment instruments available to the masses. We are therefore proud to include Meezan Bank as the tenth bank to be accepted on PayFast, on our journey to disrupt the digital payment landscape of Pakistan.”
Mr. Shariq Mubeen – Head of Alternate Distribution Channels, Meezan Bank, commented “In line with Meezan Bank’s strategy to collaborate with the leading Fintechs of Pakistan, we are pleased to partner with APPS. The PayFast payment gateway by APPS will bring an innovative, secure and user-friendly account-based payment option to our customers on numerous eCommerce websites as well as Billers of Pakistan.”
About Meezan Bank
Meezan Bank is leading Islamic bank of Pakistan and also one of the largest banks nationwide in terms of branch network as well as deposits. With a network of 820+ branches in more than 248 cities, it has the largest Islamic banking network in Pakistan.
Meezan Bank has consistently been recognized as the Best Islamic Bank in Pakistan by numerous local and international institutions including its recognition as the ‘Best Bank – 2020’ by Pakistan Banking Awards – the most prestigious award in the country’s financial sector and by Islamic Finance News – Malaysia, Global Finance magazine – New York, Asset AAA – Hong Kong, Asiamoney – Hong Kong, The Banker – United Kingdom, South Asian Federation of Accountants, Islamic Finance Forum of South Asian Awards, – Dawn & IBP Pakistan, Employers Federation of Pakistan and CFA Association – Pakistan.