Faysal Bank and Tapsys Partner for Digital Transformation of SMEs in Pakistan

Faysal Bank Limited (FBL) has partnered with Tapsys Private Limited (Tapsys) to deliver cutting-edge digital services for Small and Medium-sized Enterprises (SMEs) across Pakistan. The strategic alliance will focus on providing a comprehensive suite of digital and Shariah-compliant acceptance solutions, aligning with global standards. This partnership aims to make cashless payments more convenient and supports the State Bank of Pakistan's (SBP) financial inclusion and cashless economy goals.

Key Takeaways:

• The partnership between Faysal Bank and Tapsys will focus on providing digital and Shariah-compliant acceptance solutions to SMEs across Pakistan, meeting global standards.
• The alliance includes the deployment of Point-of-Sale (POS) systems equipped to handle modern payment methods, such as Raast Merchant QR-based payments.
• Syed Amin ur Rahman, Chief Digital Officer, Faysal Bank, stated that the partnership aims to make cashless payments more convenient, aligning with SBP's financial inclusion and cashless economy goals.
• Karim Jindani, Chief Executive Officer, Tapsys, emphasized the focus on secure and scalable technology, aligning perfectly with FBL's commitment to delivering state-of-the-art digital financial services.
• The partnership aims to reshape how businesses and consumers experience digital payments, driving innovation in the digital payment space.
• Tapsys specializes in secure and scalable technology, which will be a key component of the partnership with Faysal Bank.

Statistics:

• The State Bank of Pakistan (SBP) has set a goal for financial inclusion and a cashless economy.
• Raast Merchant QR-based payments are becoming increasingly popular in Pakistan.
• Faysal Bank aims to deliver state-of-the-art digital financial services to SMEs across Pakistan.
• Tapsys is a reputable technology solutions provider, specialized in secure and scalable technology.
• The partnership between Faysal Bank and Tapsys will deploy POS systems across Pakistan, enhancing digital payment options.

Sources:

• Faysal Bank Limited (FBL)
• Tapsys Private Limited (Tapsys)
• Statement by Syed Amin ur Rahman, Chief Digital Officer, Faysal Bank
• Statement by Karim Jindani, Chief Executive Officer, Tapsys