Karachi: On February 01st, 2019, an agreement signing ceremony was held between 1LINK (Private) Limited (1LINK) and Paysys Labs at 1LINK head office in Karachi. With the arrangement in place, Paysys will provide connectivity and implementation solution to facilitate 1LINK member banks in adopting 1ID and Request to Pay (RTP) products. With the introduction of 1ID and RTP products, digital payments consumers will have added convenience to make safe and secure payments.
1ID is bio-metric enabled cash withdrawal scheme where consumers will be able to withdraw funds without any card. 1ID has also the feature of interoperability which means that the customers of one bank can withdraw funds from another member bank’s bio-metric enabled ATM. Launch of 1ID has put Pakistan in the ranks of few countries which have interoperable biometric cash withdrawal schemes.
RTP is a new proposition designed to give consumers and businesses greater flexibility when making payments. With RTP, payee sends a request to the payer, most likely through an app. The payer can see the requested amount and can decide to whether to make the payment or not. Once the payer decides to make payment, a simple confirmation will enable 1IBFT payment from the payer’s account.
Mr. Najeeb Agrawalla, CEO 1LINK said “1LINK has introduced various digital payments solution which are specifically designed around customers and 1ID and RTP are some of them. The product development of 1ID and RTP is completed at 1LINK’s and it is important that member banks enable the same at their end so consumers can reap the benefits. We are confident that Paysys’ solution will catalyze the adoption of 1ID and RTP bringing significant change in how payments are made in Pakistan”.
Mr. Karim Jindani, CEO Paysys Labs stated “For us, it’s all about giving our clients access to the modern and secure payment solutions irrespective of the medium the customer chooses to use. As a FINTECH, we must be agile to adapt and offer solutions that align with changing customer’s behavior. In this evolving landscape, 1LINK’s 1ID and RTP platform is the need of the hour. Through this platform, end customers will be able to go card-less and use a faster and reliable payment method. We are extremely excited to be a part of this project and hope this association with 1LINK goes a long way for future endeavors. Mr. Ali Abbas Sikander co-founder and Director, Paysys Labs was also present on the occasion.
