Askari Bank Limited and NayaPay have signed an agreement to promote digital payments in Pakistan.

As an Electronic Money Institution (EMI), NayaPay enables users to open E-money accounts in a few simple steps. E-money account holders can make digital payments by accessing their funds through the NayaPay app and associated debit card, accepted at ATMs and retailers across Pakistan.

For Askari Bank Limited, providing new and innovative digital modes of transactions to customers is part of their Digital Banking Strategy. This collaboration will enable Askari Bank Limited’s customers to link their Askari Bank account to their NayaPay wallet for convenient money transfers between accounts and for merchants to offload funds to their designated Askari Bank Limited account. Consumers and businesses can use their linked accounts to pay verified merchants on the NayaPay app.

Syed Jafar Raza Rizvi, Acting Head Corporate & Investment Banking, Askari Bank said:

“Askari Bank Limited is a firm believer that synergies within a financial ecosystem would not only benefit the consumers, but will also assist in achieving the financial inclusion objective. The interplay of technology and financial services would only grow in coming years. At Askari Bank, we are delighted to sign up NayaPay as one of our partners.”

Speaking about the partnership, Mr. Danish Lakhani, CEO NayaPay, said:

“At NayaPay, we are building an indigenous digital platform to address the everyday payment pain-points of Pakistani citizens. The partnership between Askari Bank and NayaPay is a step towards an enabling environment that fosters innovation and transparency to create value for our collective customers.”