The State Bank of Pakistan has approved and granted a license to NIFT ePay, a provider of digital payment services. It is the creation of National Institutional Facilitation Technologies (NIFT), a pioneering electronic/automated check clearing house that has been active in Pakistan since 1997.
A variety of businesses, including educational institutions, can be paid digitally using NIFT ePay by using bank accounts, credit/debit cards, and wallet accounts.
Ideal Autonetics (Pvt) Limited created and developed the ERP system known as iEMS to help educational institutions manage their students’ fees.
The solution makes it easy for management and administrative users to carry out their various tasks and offers thorough MIS reports.
The goal of the partnership between Ideal Autonetics and NIFT ePay is to make it easier for educational institutions registered with iEMS to receive their fee payments electronically.
The students’ or their parents’ bank accounts, credit or debit cards, and wallet accounts will all be accepted as convenient payment methods for digital fees.
Speaking on the collaboration, Aslam Pirzada, CEO of Ideal Autonetics, said, “Based on our vision to digitally transform the academia for achieving academic excellence, we have joined hands with NIFT ePay.
We plan to add more value by providing services that will inspire and excite our customers. We aim to lead our way into a new era of digital services by synergizing together.”
The collaboration would contribute to revolutionizing the management of academic operations digitally, with trust and confidence, he added.
Syed Faraz Javed, GM – of Digital Financial Services (ePay), said, “We are excited to partner with Ideal Autonetics, one of the established service providers in the Education Industry.
Integrating NIFT ePay with iEMS will allow us to execute our strategy to deliver frictionless and secure digital payments to the education sector all across Pakistan. This partnership will allow both companies to help the education sector in digital transformation.”
Both sides’ representatives were present at the signing ceremony, which took place at the NIFT office.
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