UnionPay International (UPI) and Avanza Premier Payment Services (APPS) join together to digitize Pakistan through the power of M-commerce transactions. By virtue of this, APPS has become a Third Party Service Provider (TPSP) of UPI, a globally leading mobile payment service provider.

The signing ceremony held at UPI's headquarter in Shanghai and was attended by Syed Adnan Ali, CEO APPS, Larry Wang, Vice President, UPI, Nadeem Haroon, Country Manager, UPI Pakistan along with top management of both companies.

PayFast; APPS' robust payment gateway, is focused on empowering banks to embrace the same level of diversified payment acceptance. By harnessing the power of new age payment methods, combined with the widespread availability of smartphones, both entities have enhanced the mobile applications of partner banks to enable Quick Response (QR), P2P and Tap & Pay (HCE & NFC) based transactions and also to provide exciting discounts and cashback promotions.

Banks which will be enabled for Payfast powered M-commerce transactions include Askari Bank, Faysal Bank, Habib Metro Bank, NRSP Bank, Summit Bank and U Bank.

Payfast is a Fintech which is obtaining PSO/PSP license from the State Bank of Pakistan and will enable digital payments through Bank Accounts, Mobile Wallets and UnionPay, and other scheme cards. The primary objective of Payfast is to accelerate the Pakistani digital payments market up to and beyond the standard of international markets.-PR