HBL and PayFast Sign Partnership to Enable Card-less E-Commerce Transactions in Pakistan
HBL, Pakistan’s largest commercial bank, has gone live with PayFast, Pakistan’s first commercially licensed payment gateway and fifth PSO/PSP overall, to facilitate card-less e-commerce payments (Mobile / Electronic Commerce Payments).
Under this partnership, HBL will empower its vast portfolio of e-commerce merchants on HBL Pay (IPG) to accept payments directly through bank accounts covered under the umbrella of PayFast, without the need for a debit or credit card.
Earlier, any merchant using HBL Pay for payment processing allowed its customers to make transactions using Visa, MasterCard, UnionPay, and PayPak cards, whereas card-less transactions were enabled only for HBL accounts. Now, every merchant using HBL Pay will have this feature enabled for customers that hold an account with any of PayFast’s banking and digital wallet partners.
Speaking on the occasion, Mr. Abrar Mir, Chief Innovation & Financial Inclusion Officer at HBL, said:
“HBL considers the expansion of digitalization and the empowerment of all customers as its core business value. This partnership is now enabling the financial inclusion of all customers, bringing the benefits of e-commerce to those who do not have access to a debit or credit card. HBL strongly believes this will also open up a much wider customer base for our e-commerce merchants and result in a true win-win partnership for everyone in the ecosystem. With a focus on facilitating the end customers and e-commerce merchants, HBL Pay has now enabled cardless payments for PayFast’s partner banks through our Internet Payment Gateway.”
Mr. Adnan Ali, CEO of APPS, said in a statement,
“HBL is the largest bank and one of the most innovative financial institutions in Pakistan that always prioritizes the needs of its customers. It is encouraging to see that HBL has partnered with us, thereby reasserting our mutual aim to collaborate and lead the disruption and transformation of digital payments in the country.”
PayFast’s partnership with HBL will impact over 30 million bank account and digital wallet users in Pakistan, empowering the customers with increased choices for making transactions on their preferred e-commerce websites
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