Faysal Bank and Smart1-Tech to work together on digital payments solutions
In a move to strengthen Pakistan’s digital payments ecosystem, Faysal Bank Limited (FBL)—a leading Islamic bank—has entered into a strategic partnership with Smart1-Tech (Pvt.) Ltd, an emerging fintech firm specializing in digital payment and acceptance solutions.
The collaboration aims to accelerate
the adoption of secure, cashless transactions among Micro, Small, and Medium
Enterprises (MSMEs)—a vital segment of Pakistan’s economy. The initiative
reflects Faysal Bank’s continued focus on financial inclusion through
fintech-driven innovation.
A formal signing ceremony was held
at Faysal Bank’s Head Office, with senior leadership from both organizations in
attendance.
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Amin ur Rahman, Chief Digital Officer at Faysal Bank, emphasized the importance of collaborative growth:
“Our partnership with Smart1-Tech is
a step forward in expanding the digital payments landscape in Pakistan. At
Faysal Bank, we are committed to innovation through collaboration, and this
aligns perfectly with our digital growth strategy.”
Ali Ahmed, CEO of Smart1-Tech, spoke
about the significance of the agreement:
“We’re honored to partner with
Faysal Bank. This collaboration marks a major step in advancing digital acceptance
services in Pakistan, and we’re confident it will drive growth and create
meaningful impact for small businesses.”
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The partnership will also focus on scaling up Raast P2M QR-based payment solutions—enabling small retailers to adopt low-cost, instant digital transactions. This move supports Pakistan’s broader shift toward a cashless, connected economy.
Source: Aaj TV