Following this announcement, the collaboration aims to develop an optimised and secure digital payment solution that will integrate real-time transaction systems such as RAAST. Paysys Labs is expected to play an important role in the process of assisting Raqami in improving its digital payment offerings, while also providing and ensuring that customers enjoy secure access to expanded payment functionality and products.
In addition, both financial institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry as well.
The collaborative effort will focus on optimising the digital payment solutions for clients and users across the region of Pakistan, while also aiming to develop a more inclusive and efficient payment ecosystem where businesses and individuals alike can benefit from an improved experience. At the same time, users of the Raqami Islamic Digital Bank Pakistan will be given the possibility to enjoy an end-to-end digital onboarding process, while also benefiting from real-time instant transactions backed by Paysys’ unified payment platform.
In addition, the partnership with Paysys represents an important step in the financial institutions’ strategy of launching a comprehensive banking tool designed for the digital development of the market. With Paysys’s expertise in the Pakistan fintech landscape, the Raqami Islamic Digital Bank Pakistan is set to offer an improved payment experience that provides convenience, speed, transparency, and reliability.
The strategic deal will also enable access to payment solutions that were developed for a more connected and financially empowered country, focusing on bridging the gap between traditional banking and the digitalisation of the ecosystem through improved financial inclusion and easy access.
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