With the introduction of its cutting-edge Point of Sale (POS) payment systems and online payment gateway services, the Bank of Punjab (BOP), one of the top commercial banks in the country, has started a trailblazing path. Out of the 41 commercial and specialty banks in the nation, BOP is the seventh bank to offer this service. This tactical choice reaffirms BOP’s dedication to enhancing its digital retail services and accelerating the development of the country’s digital ecosystem.
The Bank of Punjab (BOP) and PayNet Private Limited, a fully-owned subsidiary of Omega IT Solutions United Arab Emirates known for its expertise in digital payment business solutions, have formed a strategic agreement to pursue this ambitious project. With ambitions to broaden its reach through other Independent Sales Organisations (ISOs) for comprehensive statewide coverage, this partnership marks an important turning point in BOP’s mission to provide point-of-sale (POS) payment services to the market.
By providing them with cutting-edge POS systems and making cashless transactions available over the counters, the bank will serve as a conduit between merchants, issuers, and payment networks, allowing shops to gain from the acceptance of digital payments. All card types are supported by the POS devices.
At a well-known neighbourhood hotel in Lahore, a celebration was held to mark this historic occasion. The occasion provided a venue for honouring the significant efforts of those who were instrumental in this project. Mr. Zafar Masud, President and CEO of BOP, and other illustrious members of the senior management team attended the occasion as dignitaries.
“The Bank of Punjab is diligently leading the modernization of retail services within the country by enhancing our digital offerings and promoting economic documentation,” Mr. Zafar Masud said in his remarks on this occasion. We have already made a commitment to provide SMEs, corporations, and government sectors with top-notch services. We want to strengthen these business ties with the opening of our Merchant Acquiring division so that BOP may offer cutting-edge, market-leading payment solutions to customers all over the country.
With its merchant-acquiring business, the Bank of Punjab embraces the future and underlines its commitment to establishing a financially inclusive and technologically sophisticated environment in Pakistan. The bank’s persistent dedication to innovation and excellence ensures that everyone will have a better and more accessible future.
