ConnectPay a subsidiary of THK Solutions (Private) Limited (THKS), recently signed a tri-party agreement with 1LINK [Guarantee] Limited (1LINK) and Faysal Bank Limited (FBL) to digitize their payment collection methods. The collaboration allows ease of B2B & B2C payment collection through different service channels of banks.
THK Solutions is operating in the payment landscape for few years and this partnership with 1LINK & FBL will provide the opportunity for THKS to enter a new market segmentsegment market; THK will play its role as an aggregator where Faysal Bank will cover the settlement function.
This collaboration will empower both THKS and 1LINK to jointly provide an efficient, cost effective and strong payment infrastructure. In addition, it will drive the growth of payments by promoting new, secure, and more convenient ways to pay, and thereby advancing e-payments in established and emerging markets of Pakistan.
Mr. Anwar Matin, CEO THKS after signing the agreement commented, “This strategic alignment, will make online payment transaction infrastructure accessible to all business entities and provide convenient, quick payment acceptance capabilities to any business that needs to process payments from their end customers.”
Speaking on this occasion, the CEO of 1LINK – Mr. Najeeb Agrawalla, stated, “Times have changed and technology is changing rapidly. We need to stay competitive and offer the best solutions to our customers. We are proud of our success and through our collaboration with THKS, we are confident that our customers will be appreciative of the expediency that will be enabled in payment industry.”
About THKS: (Anwar Matin – CEO; Syed Asif Hasan – COO; Syed Yousuf Ali – Sr. Manager Business)
THK Solutions (Private) Limited is partially owned by Elahi Group, one of the leading diversified group active in logistics, manufacturing, financial and technology businesses. THKS is a certified Microsoft Gold Partner and ISO 9001-2000 software development and consultancy firm providing end-to-end services in the field of software consulting, development, the supply and support of information systems, and business processes. THKS is a recognized name in the Information Technology & Consulting Industry in Pakistan and has been active in developing technology solutions for almost twenty years.
About 1LINK:(NajibAgrawala – CEO; Bashir Khan – COO; Azimullah Khan – CIO)
1LINK (Guarantee) Limited, owned by a consortium of 11 banks, is the country’s 1st PSO/PSP and largest switch and payment system, providing a host of valuable online banking services like ATM switching, Bills Payment, Inter Bank Funds Transfer, Fraud Risk Management, Switch Dispute Resolution, Global Payment Schemes, PayPak – Domestic Payment Scheme, etc. 1LINK is continuously evolving and adding new products and services to benefit the financial industry.
About FBL: (Syed Zaheer Abbas – Head Consumer Finance & ADC Opps; Omer Farooq – Head Financial Institutions)
Faysal Bank Limited has been providing quality Commercial, Retail, Corporate and Islamic banking services in Pakistan for almost a quarter century. Spread over more than 120 cities with over 400 (including 197 Islamic) branches, and total assets in excess of PKR 444.5 billion, FBL is one of the significant players in the Pakistani banking industry. Faysal Bank’s ambition is to provide par excellence service to its customers while meeting their financial needs.