1LINK (Guarantee) Limited and National Institutional Facilitation Technologies (Pvt) Limited (NIFT), under the guidance of SBP, signed a memorandum of understanding (MoU). The MoU was signed by Najeeb Agrawalla, CEO, 1LINK and Haider Wahab, CEO, NIFT. The signing ceremony took place at 1LINK office. Najeeb Agrawalla, CEO of 1LINK commented, "The collaboration with Nift will prove to be beneficial for the development of digital payment eco-system in Pakistan. Using joint forces, we can enhance/boost the existing digital landscape and facilitate banking industry and the end consumer."
Digital financial services have been an important component of the SBP vision 2020, in promoting financial inclusion and driving economic growth. The aim of this MoU is to sustainably increase financial inclusion while protecting users of digital payments. This MoU will further shape into more concrete collaborations in multiple areas.
Haider Wahab, CEO, NIFT speaking on the occasion said, "Nift's focus has always been on delivering a seamless payment experience for the nation. It is first time in the history that the two Payment Service Providers/Payment Service Operators (PSO/PSP) have joined hands together to build digital payment ecosystem in Pakistan. It is important for the industry to collaborate to promote financial inclusion in Pakistan."-PR