NIFT and Haball Join Hands to Introduce Contextual Business to Business (B2B) Payments

Karachi, Tuesday, April 28th, 2020: National Institutional Facilitation Technologies (NIFT) (an existing Payment System Operator/Provider (PSO/PSP) offering nation-wide cheque clearing services) and Haball (a B2B FinTech and Corporate Aggregator) sign an Institutional Aggregation Agreement for enabling B2B payments through NIFT’s Digital Financial Services platform under the brand name “NIFT ePay”. The strategic agreement is aimed to promote digitization of B2B and Supply Chain payments through a contextual railroad designed for B2B payments that is deeply integrated with businesses’ ERP / Supply Chain platforms and offers capturing of complete context throughout various stages in B2B payments lifecycle while creating interoperability for business payments.

Since the last decade, great focus has been made by the financial industry in Pakistan for digitization of payments, however, majority of the efforts revolve around consumer payments. B2B payments have largely been neglected due to inherent challenges posed by such payments including large transaction values, urgency in realization to trigger supply chain decisions, complicated authorization mechanisms, context behind payments and reconciliation etc.

Some banks offer digital payment facilitation for their corporate clients, but the solution offered is largely closed-loop / branch intensive with some limited transactions across banks which hinders interoperability of business payments through these platforms. Due to a lack of interoperability and the inability of current solutions to capture the context behind business payment, businesses use large operational teams to reconcile their payments across multiple collecting banks which costs them time and money.

NIFT has worked with its technology partner TPS and strategic aggregator Haball to design a “Contextual Funds Transfer (CFT)” railroad which not only allows interoperable payments between multiple business accounts, but also provides real-time confirmations to both the payer and the payee of the payment and its context enabling real-time reconciliation. In addition to the CFT railroad, Haball’s Unified experience platform provides a complete payment solution to businesses and facilitates banks to fulfill the transactional needs of the corporate clients beyond their own infrastructure. CFT is based on the ISO 20022 framework and provides immense depth of detail within the payment transaction for the benefit of the corporates using the facility hence enabling capturing of complete context behind a business payment.

NIFT has already started working with multiple banks during the ideation and development phase of the project and is now technically ready to start integrating the banks and corporates for enabling the market on this payment railroad.

Speaking at the signing ceremony, Mr. Haider Wahab said, “We understand that it’s not an easy journey but good things take time, effort and persistence but they also go a long way. NIFT has been known to serve the financial industry for over two decades with a promise of consistent and robust services. We see a great potential in B2B payment digitization and we are happy to work with a partner like Haball, which focuses and is aggressively working to digitize complexity and diversity in domestic supply chains. The teams have worked together to create an exciting payment and collection solution, focused to resolve the limitations of business payment. I believe that this will change the way business payments are being done today.”

Mr. Omer Bin Ahsan, CEO Haball speaking at the signing said “Contextual Fund Transfer aggregated by Haball’s Digital Supply Chain Platform provides all key stakeholders, from the corporate, their distributors and retailers, a single, context rich experience, tightly coupled with a highly secure payment mechanism. Haball with NIFTs new and all-encompassing B2B payments rail is poised to simplify and change the way how businesses, of all sizes, pay each other.”

Haball, 1LINK and Meezan Bank sign an agreement to accelerate digitization of B2B payments in Pakistan

October 03, 18 – Karachi: An agreement was signed amongst Haball, 1LINK (Pvt) Limited (1LINK) and Meezan Bank Limited (Meezan Bank) to introduce a fast, secure and simple payment solution to accelerate digital payments in the Pakistani B2B space. The signing ceremony was held at 1LINK head office, Karachi.

This arrangement will ease B2B payment by enabling businesses of all sizes to make inter-entity digital payments, that fulfill their existing bookkeeping, reconciliation and reporting processes using Haball’s Context Driven Payment solution. This solution introduces new standards, providing a one-window B2B payment aggregation solution for consolidated information across all omni-channel end-points. While Haball’s role will be of an aggregator, Meezan Bank will perform the settlement function. 1LINK’s largest and state of the art infrastructure will ensure seamless processing of the transactions.

“Businesses can now benefit from our context driven payment solution, automating the most fundamental business processes” said Mr. Omer Bin Ahsan, CEO – Haball. “Haball provides businesses a convenient way to pay digitally and instantly, bringing efficiencies in existing business processes by streamlining existing workflows and improving productivity”.


Mr. Najeeb Agrawalla, CEO 1LINK commented “1LINK is at the forefront in bringing innovation in digital payments sphere, resulting in convenience and secure payment methods. Haball’s solution for B2B payments will create the ease of doing business in Pakistan and also positively add towards its economy”.


Mr. Ariful Islam, Deputy CEO, Meezan Bank said “Meezan Bank has a clear and focused Digital strategy and this collaboration is one of the various Fintech alliances that we have been working on. We are very excited to be the first bank to partner with Haball and 1LINK, bringing digital payment automation solutions in the B2B landscape in Pakistan. We admire Haball’s dedication to revolutionize commercial payments, and through this partnership we plan to address the challenges in the Pakistani B2B payment space effectively”.

About 1LINK (Pvt) Limited
1LINK (Pvt) 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 Meezan Bank Limited
Meezan Bank is the 7th largest bank in Pakistan and the leading Islamic bank of the country. The Bank provides a comprehensive range of Islamic banking products and services through a retail banking network of more than 600 branches supported by a countrywide network of 600 ATMs, Visa & MasterCard Debit cards, a 24/7 Call Center, Internet Banking and Mobile Banking facility.

Meezan Bank has consistently been recognized as the Best Islamic Bank in Pakistan by numerous local and international institutions, which is a testimony of the Bank’s commitment to excellence. These institutions include Islamic Finance News – Malaysia, Global Finance magazine – New York, Asset AAA – Hong Kong, Asiamoney – Hong Kong, The Banker – United Kingdom, South Asian Federation of Accountants, Islamic Finance Forum of South Asian Awards, Pakistan Banking Awards – Dawn & IBP Pakistan, Employers Federation of Pakistan and CFA Association – Pakistan.

The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has reaffirmed the Bank’s long-term entity rating of AA+ (Double A Plus) and short-term rating at A1+ (A One Plus) with stable outlook. The rating indicates sound performance indicators of the Bank.