A Memorandum of Understanding (MoU) was signed between Meezan Bank Limited and NayaPay Pvt Ltd on the 14th of November 2018. The agreement forms the basis of a strategic partnership between the two organizations to provide innovative, technology-based payments in Pakistan. NayaPay aims to introduce a robust payment services platform to enable merchants and consumers to sign up, transact and communicate cheaply, securely and conveniently.
NayaPay believes there is a significant gap between consumer expectations and financial services currently available-and the company intends to address these shortcomings with a home-grown platform with best in class components to make payments frictionless and safe while ensuring compliance to local and global regulatory frameworks and strictly adhering to anti-money laundering and countering financing of terrorism guidelines.
Ariful Islam, Deputy CEO of Meezan Bank, said: "We are delighted to partner with NayaPay which is all set to introduce exciting innovations in the payments space aimed at making payments easier and faster for the customers while expanding payments ecosystem with the inclusion of new segments and use cases. We wish NayaPay all the very best."-PR