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January 27, 2014updated 04 Apr 2017 4:09pm

Ufone teams up with HBL to launch new payments service in Pakistan

Ufone, a Pakistani GSM cellular service provider, has partnered with financial institution HBL to launch its new payments service for the corporate sector in Pakistan.

By Verdict Staff

Ufone, a Pakistani GSM cellular service provider, has partnered with financial institution HBL to launch its new payments service for the corporate sector in Pakistan.

The new UPayments Business to Business (B2B) service will allow corporate users to carry out a range of financial transactions through the UPayments platform.

Initially, over 90 Ufone franchises have come onboard to use this service for their daily payments. The corporate organisations will now have the opportunity to leverage mobile infrastructure to eliminate inefficiencies in their payments processes and make substantial cost savings.

The next phase will include extension of this service to include consumer to business (C2B) payments where this service will be available to the general public to make daily payments to businesses such as restaurants, hospitals and others using mobile phones.

HBL president and CEO, Nauman Dar, was quoted by Finextra, saying, "We are proud to be the first bank which has initiated this project with Ufone and look forward to providing convenience of B2B payments to small businesses in the long run. We are committed to offer a scalable mobile platform to service a wide range of clients from individual customers to the largest multinationals."

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