Easypaisa Digital Bank, Pakistan’s first fully digital retail bank, has signed a Memorandum of Understanding (MoU) with the National Institutional Facilitation Technologies (NIFT) to enable digital cheque clearing services across the country.
NIFT, the sole entity responsible for interbank cheque clearing in Pakistan, plays a key role in ensuring the efficiency and security of the national financial system, according to a press release.
Under the agreement, Easypaisa Digital Bank will integrate NIFT’s centralized cheque clearing system, allowing its customers to process cheques digitally in line with regulatory and banking standards.
The MoU was signed in Islamabad by Easypaisa Digital Bank’s Chief Digital Officer (CDO), Farhan Hassan, and NIFT’s Chief Executive Officer (CEO), Javed Yousuf Edhi.
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The partnership marks a significant milestone for Easypaisa Digital Bank as it broadens its banking services portfolio with enhanced compliance, operational efficiency, and accessibility.
Speaking at the signing ceremony, Farhan Hassan said, “This collaboration with NIFT is an important step in our journey toward full-service digital banking. By leveraging NIFT’s infrastructure, we aim to provide customers with reliable and secure digital cheque clearing services directly through the Easypaisa app.”
He added that the initiative is focused on improving customer convenience by eliminating branch visits and reducing processing delays. “This service offers a secure, efficient, and environmentally friendly alternative to traditional paper-based cheque handling, with full traceability and authentication,” he said.
NIFT CEO Javed Yousuf Edhi expressed his appreciation for the partnership, stating, “NIFT is pleased to onboard Easypaisa Digital Bank as a partner. As Pakistan’s only cheque clearing facilitator, we remain committed to supporting digital banks and financial institutions in delivering efficient and secure financial services nationwide.”
The partnership reflects both organizations’ shared vision of advancing Pakistan’s digital financial ecosystem through safe and standardized banking operations.
