Pakistan’s Meezan Bank has tapped BPC Banking Technologies to deliver its digital transformation, starting with an upgrade of its payment infrastructure.
As part of the upgrade, Meezan has selected BPC’s SmartVista platform to provide issuing and acquiring services for the bank. In addition, the solution will be used to manage the authorisation of payment transactions in real-time, across all channels.
According to the bank, the move to invest in its digital payment infrastructure is part of Meezan’s strategy to support both consumers and businesses throughout Covid-19.
Faizur Rehman, group head of information, technology and digital banking at Meezan Bank, said: “Pakistan has seen massive growth in its digital payment market, driven by the shift to go digital during the Covid-19 pandemic. We need to have the right digital payment infrastructure in place to offer new payment experiences to consumers, as well as payment acceptance capabilities to companies.
“Leveraging BPC’s years of expertise and its robust solutions will help us adapt to these changes fast. We are confident that by combining the latest technology with our product offering, we can deliver excellent customer experience in this fast-moving landscape.”
“Shifting to a digital-first economy”
The announcement comes as the Pakistani Government has set targets to achieve $5bn in e-commerce sales over the next three years.
As a result, the Government is investing into enhancing e-commerce payment gateways, which enable merchants to accept credit, debit and prepaid card payments on their websites.
Angelo Bertini, SVP managing director, Middle East, Africa and South East Asia at BPC, said: “As we increasingly shift to a digital-first economy; payment switches, management of merchant services and fraud prevention have become incredibly important to enable seamless digital transactions.
“At BPC, we know flexibility and the ability to scale are paramount to create a solution that can adapt with Pakistan’s electronic payment landscape. We look forward to continuing to support Meezan Bank as it navigates this exciting time in digital payments in Pakistan.”