28 March 2023

BOP and NayaPay collaborate to boost digital financial services


BOP and NayaPay collaborate to boost digital financial services

The Bank of Punjab has collaborated with NayaPay as one of its partner banks. The two organizations signed an agreement at BOP’s head office in Lahore.

Marching forward in its mission to empower its digital channels (digiBOP), the Bank of Punjab has been on the forefront to support the digital ecosystem of Pakistan. In its commitment towards digitization, BOP has entered into a partnership with NayaPay to provide an opportunity to BOP to uplift its channels and business utilization. NayaPay, a leading E-Money Institution in Pakistan, enables users to open E-money accounts on their smartphones in a few simple steps and take control of their finances. With this alliance, NayaPay customers can deposit cash into their NayaPay account at any BOP bank branch. Additionally, BOP and NayaPay’s mutual customers can link their BOP account to their NayaPay wallet for convenient money transfers between accounts and for merchants to offload funds to their designated BOP account. Customers may also load their NayaPay wallets by simply using the BOP internet banking portal and mobile banking app.

Speaking at the signing ceremony, Mr. Nadeem Amir, Chief Financial Officer, BOP said:

“The Bank of Punjab has been taking frequent steps towards strategic partnerships with fintechs to develop culture and support digital innovation by handshaking with other digital players in the market. This partnership with one of the prominent fintechs in industry would boost digital ecosystem in the country and allow both the users of NayaPay and BOP freedom to use financial services.”

Omar Askari, Chief Business Officer, NayaPay said:

“We are pleased to integrate with the Bank of Punjab such that NayaPay customers will have the convenience of being able to pull and send back funds to their BOP accounts within their app. We will continue to partner with the banking eco system in Pakistan to give the end consumers a seamless payment experience. We look forward to building on this partnership with the BOP to continue to work together to deliver use cases to our mutual customers.”

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