Al Baraka Bank and Avanza Premier Payment Services Partner to Enable Digital Payments through PayFast

Business News

Karachi, September 25, 2020 (PPI-OT): Al Baraka Pakistan has paired with Pakistan’s prominent fintech, Avanza Premier Payment Services (APPS), to allow its customers to pay online via their bank accounts through APPS’ indigenous payment gateway, PayFast. Approved for pilot operations by the State Bank of Pakistan (SBP), PayFast empowers multi-instrument acceptance of Scheme Cards, Mobile Wallets, and Bank Account Numbers.

They address merchant pain points through the digital sign up, robust APIs and plugins, fraud detection, PCI-DSS certified infrastructure, and PayLinks, a digital billing and invoicing solution ideal for FB, merchants, freelancers, etc. to accept payment simply via a unique link. Al Barak Bank (Pakistan) Limited is part of Al Baraka Banking Group B.S.C. (“ABG”) Bahrain which is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion.

The Group has a wide geographical presence in the form of subsidiary banking units and representative offices in 17 countries, which in turn provide their services through over 700 branches. Al Baraka Banking Group has operations in Jordan, Egypt, Tunis, Bahrain, Sudan, Turkey, South Africa, Algeria, Pakistan, Lebanon, Saudi Arabia, Syria, Morocco, and Germany, in addition, two branches in Iraq and two representative offices in Indonesia and Libya.

Mr. Adnan Ali, CEO of APPS, said in a statement, “Al Baraka Bank is attributed to be the pioneer of Islamic Banking in Pakistan, and a reliable name in the financial industry. We are therefore proud to take Al Baraka Pakistan on our journey to disrupt the digital payment landscape in Pakistan, and bring convenience to their customers with simpler, more secure digital payment methods.”

On this occasion, Mr. Farhan Baig, Deputy CEO – Business, said, “Al Baraka is delighted to take APPS on board with us on the journey of digitalization; Al Baraka is very keen to provide the best digital solutions to its customers. With this, our customers will see a new level of ease in a safe and secure environment. This feather in the cap will also provide an opportunity to consumers and merchants to experience the Shariah Compliant Banking with peace of mind.” For more information on APPS and Al Baraka Bank, you can visit their websites: apps.net.pk or albaraka.com.pk.

For more information, contact:
Al Baraka Bank (Pakistan) Limited
Al Baraka House
162 Bangalore Town, Main Shahrah-e-Faisal
Karachi, Pakistan
PABX: +92 21 3431.5851
Fax: +92 21 3454.6465
Email: info@albaraka.com.pk
Website: www.albaraka.com.pk