Meezan Bank – Pakistan’s leading Islamic Banking setup has partnered with Inov8 Limited to incorporate FalconPay Ecosystem – the next generation payment system.
FalconPay setup is a comprehensive digital ecosystem which is run by the digital wallet solution of MasterCard, Masterpass.
This move by Meezan has been taken to enhance its role in the digital channels aimed at increasing the focus on the ever-increasing Islamic Banking customers. Additionally, the move will allow the bank to add on-the-go buying, online purchases, for digital bill payments, for booking cinema tickets of movies, be facilitated with top-ups of mobile airtime and many things more.
The payment system, FalconPay mobile application will allow customers to merge their bank or wallet accounts into it for safe and easy access.
Meezan Bank’s CEO & President, Mr. Irfan Siddiqui talked about the importance of digital solutions and the payment plan to incorporate as part of the strategy to cater the needs of bank’s customers. He said, “I believe this agreement will help both the parties to set up a new standard for digital banking by enabling Meezan Bank to capture its customers’ transactions, meeting their real-time needs and proceeding towards a fully digital relationship.”
On the other hand, the Co-CEO and Co-Founder of Inov8 Limited briefed, “We are delighted in strengthening the digital ecosystem for Meezan Bank, Pakistan’s fastest growing bank. Our best in class platform will create a new era of digital banking and payments for issuers, acquirers, and merchants.”