A Discussion about NIFT ePay with Fawad Abdul Kader

A Discussion about NIFT ePay with Fawad Abdul Kader

1.What was the vision behind NIFT ePay?

NIFT ePay envisions to be Pakistan’s domestic payment platform for digitizing, processing and facilitating collection and payments from all payment instruments including accounts, wallets, cards and international payment methods for merchants and business entities in Pakistan. The vision is to facilitate the customers and businesses to connect them “Beyond Payments”.
Discussion About NIFT ePay

2.How did you address the challenges while making NIFT ePay possible?

Around 4 years back when the journey of NIFT ePay started, the market had three major challenges  

Availability of Payment Options for Everyone

In the last three years from June 2018 to June 2021, Pakistan is market that has grown from 53.1 million accounts to 62.9 million Accounts (increase of 18.5%). The Debit Card penetration has increased from 21.7 million to 29.8 million cards (increase of 37.3%). The penetration of mobile app and internet banking has increased from 6.5 million users to 16.1 million users (increase of 147.7%).
The conversion of the transactional instrument from debit card to a transactional account has enabled everyone holding a valid account, wallet and card to make a payment.

Creating the right solution for the market

The journey NIFT ePay had chosen was a difficult one to integrate with the banks and merchants in order to create a complete and connected solution for different use cases. NIFT ePay made its choices based on the right solution to the problem, instead of, the easier path for the organization. The journey is still ongoing and I feel State Bank of Pakistan’s Raast will help us fast track the journey with its upcoming P2M solution.

Adoption of digital payments by the customer

A fear of making payments via digital channels exists due to several issues like security compromise, system errors, etc. resulting in customer dissatisfaction and complaints. Awareness on robustness of digital payment services should be created by addressing key questions (including Why, Where, Who, What, How) to promote adoption and uptake of payments via digital channels.

3.What are upcoming services in line with the vision of NIFT ePay?

Some of the envisioned services for NIFT ePay include:

B2B Payments

Enabling corporate payments with a capability to transfer contextual data to the Banks and parties for whom the transaction is being processed. All the data which is captured within the transaction helps entities to keep track of the transactions, settle receivables and payables and enhance or reduce the transaction completion cycle especially when delivery of goods/services is dependent on the payment receipt.  

Escrow Services

As an Escrow Agent, escrow services are offered independent of any relationship with either buyer or seller in any digital commerce transaction offering various benefits to the buyer, seller and the digital marketplace.


An alias-based directory service – aiming to get payments done via NIFT ePay quickly, safely and conveniently. All the users have the privilege of creating a unique identifier by themselves.

QR Scheme

Working with SBP to enable offering of QRs as a payment mechanism as a scheme.

4.Where do you see NIFT ePay in next 5 years in the Fintech industry?

NIFT ePay, in the next 5 years, will be the digital backbone of the financial services industry offering services beyond payments to the customers and businesses of the financial institutions like Commercial Banks, Microfinance Banks, Digital Banks and EMIs facilitating decision-making, processing and arbitrations.

5.What do you suggest to the people coming with Fintech startups?

  • Identify actual gaps based on market analysis
  • Collaborate to create synergies
  • You do not offer digital platform and applications but you offer the same services in a digital form

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