NIFT partners with Haball for B2B payments in Pakistan
National Institution Facilitation Technologies (NIFT) has partnered with Karachi based B2B fintech Haball for enabling B2B payments through NIFT’s Digital Financial Services platform under the brand name NIFT ePay. The partnership is aimed to promote digitization of B2B and supply chain payments through Contextual Funds Transfer (CFT) payment rail designed for B2B payments that will be deeply integrated into businesses ERP and other platforms.
“NIFT has been known to serve the financial industry for over two decades with a promise of consistent and robust services”, said Haider Wahab, CEO of NIFT. We see a great potential in B2B payment digitization and we are happy to work with a partner like Haball, which focuses and is aggressively working to digitize complexity and diversity in domestic supply chains”.
NIFT ePay will allow for more interoperable payments between multiple business accounts and provides real-time confirmation to both buyer and sellers. The framework will be based on ISO 20022.
“Contextual Fund Transfer aggregated by Haball’s Digital Supply Chain Platform provides all key stakeholders, from the corporate, their distributors and retailers, a single, context rich experience, tightly coupled with a highly secure payment mechanism,” said Omer Bin Ahsan, CEO of Haball. “With NIFTs new and all-encompassing B2B payments rail, Haball is poised to simplify and change the way how businesses, of all sizes, pay each other”.