TPL Trakker and Habib Bank Limited (HBL) Wednesday signed an agreement to support Contactless Payments for HBL customers using TPL technology. The arrangement will be opening a completely new and innovative way of doing financial transactions, which would be critical to the growth of electronic payments across Pakistan.
Ali Jameel CEO TPL Trakker, Faiq Sadiq Head Payment Services HBL and other senior officials of both the organisations were present at the ceremony. "TPL is extremely excited to be providing HBL the solution to support Contactless Payments," said Ali Jameel CEO, TPL Trakker, while shedding light on this venture and its core facets, during the signing ceremony.
He said that this technology solution rendered by TPL will be pivotal in enabling Near Field Communication (NNFC) transactions by NFC users in Pakistan. HBL would be rolling out NFC enable point of sale terminals to the merchant locations where NFC users would be able to execute the transactions, he added.
Speaking on the occasion, Faiq Sadiq said, "HBL is proud to be the first banking institution in Pakistan to offer NFC payments, which is gaining popularity in the payments industry world-wide". Through this innovative means of payment, we plan to introduce and promote electronic payments to the masses and take the first step in creating a national payments eco-system, he added.
NFC (Near Field Communication) is a new and innovative way of making payments. With this unique payment method which is also known as 'Tap & Go', NFC enabled consumer OR buyer will be able to pay for e-tickets and merchant outlets by simply 'Tap' the mobile phone at NFC enabled devices.
For those who are not familiar with NFC, the buyer/sender and merchant/receiver would bring their NFC phones/devices nearby close to each other to 'Tap' and this would initiate the transaction. A message would then be popped up on consumer/buyer mobile phone asking for the confirmation of amount intended to pay to merchant/receiver.
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