Pakistan's Islamic bank Meezan Bank and digital payments firm Inov8 have entered into an agreement to launch a new digital ecosystem – FalconPay Payments.
Powered by MasterCard’s digital wallet solution Masterpass, the platform will enable FalconPay users to pay for in-store, online and on-the-go purchases, make digital or bill payments, book and pay for movie and bus tickets.
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Under the agreement, Meezan Bank customers will be able to link their bank accounts with the FalconPay mobile app to make transaction.
Meezan Bank president and CEO Irfan Siddiqui said: “I believe this agreement will help both the parties to set up a new standard for digital banking by enabling Meezan Bank to capture its customers’ transactions, meeting their real-time needs and proceeding towards a fully digital relationship.”
Inov8 co-founder and co-CEO Hasnain Sheikh said: “We are delighted in strengthening the digital ecosystem for Meezan Bank, Pakistan’s fastest growing bank. Our best in class platform will create a new era of digital banking and payments for issuers, acquirers, and merchants.”
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By GlobalData
