Bureau Report

KARACHI: As the demand for fast, secure and simple digital payments across borders continues to grow, UBL and NayaPay have collaborated to enable users in Pakistan to receive international remittances from over 100 money transfer agents (MTOs) directly in their NayaPay accounts.

NayaPay, a leading E-Money Institution in Pakistan, enables users to open E-money accounts on their smartphones in a few simple steps and take control of their finances. The bank with the highest volume of home remittances to Pakistan, UBL will further expand its reach by facilitating real-time cross-border transactions into NayaPay account holders. Recipients can also enjoy the convenience of making all their everyday payments through the NayaPay app and associated Visa debit card, accepted at ATMs and retailers worldwide.

During the ceremony, Mr. Zia Ijaz, Group Executive Branch Banking and International, UBL expressed his thoughts, “UBL is a flagbearer in developing the digital ecosystem of Pakistan and this partnership is another step towards it. We are focused on enabling the enablers of the ecosystem, and NayaPay has already tapped the right sector where UBL is aligned.”

Speaking on the occasion, Danish A. Lakhani, CEO NayaPay, said, “We are delighted to partner with UBL, the market leader in home remittances, to bring 100+ money transfer operators on our platform and serve our mutual customers. This remarkable collaboration will enable people across the globe to remit funds with speed and ease to NayaPay users in Pakistan. This service is in line with our mission to connect underserved Pakistani citizens and businesses to the global financial ecosystem.”