ISLAMABAD: Paymob and 1LINK have announced a partnership agreement to power instant online payouts for merchants registered with Paymob via 1LINK’s payment infrastructure, with Bank Alfalah serving as its settlement bank.
The Paymob is an leading financial services enabler in the Middle East, North Africa and Pakistan (MENA-P) and 1LINK is Pakistan’s largest interbank network, said a press release issued here Wednesday.
This partnership represents a unique and novel offering to merchants in Pakistan by creating an end-to-end digital payments acceptance mechanism integrated with Paymob’s exclusive payout solution suite.
To this effect, merchants will be able to instantly transfer funds via Paymob’s platform directly into any 1LINK member bank account across Pakistan.
This process equips merchants to make swift payments to their vendors and suppliers, thereby digitizing cash payments in their supply chain. Additionally, Paymob merchants will be able to pay utility companies, telecom operators, and numerous other businesses via 1LINK.
Chief Executive Officer of 1LINK Najeeb Agrawalla said that Paymob to facilitate their merchants for swift and secure payment and settlement as well as strengthen the merchant network.
This strategic partnership will allow a one window solution to Paymob merchants for sending payments domestically. This business proposition will promote cashless payments thus contributing towards the digital ecosystem, he added.
Speaking at the occasion, Fawad Abdul Kader, Paymob Country Manager in Pakistan said that partnering with 1LINK unpacks the digital payment infrastructure for smooth financial services for the merchants, he added.