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National Bank of Pakistan signs two MoUs with Mobi Direct

The National Bank of Pakistan (NBP) signed two Memorandum of Understanding agreements with Mobi Direct, enabling NBP to become a consortium member and settlement bank for the firm as well as for using Mobi Direct’s digital products.

Mr. Saeed Ahmad, President NBP said that he was very optimistic about this initiative and said that this arrangement will go a long way in fulfilling aspirations and expectations of NBP customers and account holders while helping National Bank of Pakistan in rolling out various digital products and services in the future through this arrangement.

He emphasized upon achieving complete E- governance through this initiative, which is the key to success for all types of businesses.

The NBP is assisting all the provincial governments in digitalizing their various payments, fee and taxes collection systems.

He mentioned that the NBP has already inked MoUs and agreements with various provincial and federal departments for digitally colleting their fee and payments, including the Directorate General of Immigration & Passports, Bureau of Emigration and Overseas Employment, Public Service Commission KPK, Islamabad Traffic Police, Driving License Sindh and Dealer Vehicle Registration System (DVRS) and collection of e-Tax in Punjab.

Saeed Ahmad further stated that after signing these arrangements, National Bank of Pakistan will be able to use Mobi Direct payment processing and transactions switching infrastructure, online payment gateway and shared agent network for promoting nationwide branchless banking and digital payments services. These developments will allow the bank to provide real growth to the unbanked segment of the population, he added.

He also informed that National Bank of Pakistan will act as a “Settlement bank” for Mobi Direct’s digital payment system and for all of Mobi Direct’s consortium members and stake holders.

NBP is playing a major role in enhancing financial inclusion by aligning with digital banking revolutions in Pakistan. NBP is in the process of developing systems for digitization of all G2P & P2G payments.

Saeed Ahmad highlighted that NBP is actively working to digitalize its banking services built on a collaborative model with Telcos and other stakeholders. This will help in promoting Alternate Delivery Channels and enabling the right environment for inclusive growth and achieving the goal of financial inclusion, Saeed said. He emphasized that it will also help in formalizing the undocumented economy and help in achieving better economic growth.

Speaking at the occasion, Mr. Nawid Ahsan, Chairman Mobi Direct expressed his gratitude to NBP’s team, in taking lead in becoming the settlement bank for Mobi-Direct payment processing & digital payment switch with a forward-looking approach in this collaboration. Mobi Direct being the leading PSO/PSP, Mr. Ahsan also showed his firm commitment that Banking Industry will take Pakistan to a new digital era, by partnering with PSO/PSPs. He urged to work in close collaboration for development of rural and urban economy of Pakistan and making banking services affordable while being accessible for every citizen of Pakistan.

The agreement was signed by Muhammad Farooq EVP/ Group Head Payment Services & Digital Banking Group, National Bank of Pakistan and Mr. S. M Arif Director/ Chief Business Architect Mobi Direct in presence of dignitaries from both sides.

Posted on: 2018-08-24T14:58:00+05:00


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