The Bank of Punjab has introduced its Merchant Acquiring Business, which includes industry-first features such as "buy now, pay later" and "pay by" options.

"The Bank of Punjab has introduced its Merchant Acquiring Business, which includes industry-first features such as "buy now, pay later" and "pay by" options."

    "The Bank of Punjab (BOP), a leading commercial bank in Pakistan, has launched advanced Point of Sale (POS) payment solutions and online payment gateway services, becoming the 7th bank among 41 in the country to offer these services. This strategic move demonstrates BOP's commitment to enhancing its digital retail offerings and fostering the development of the nation's digital ecosystem. BOP has partnered with PayNet Private Limited, a subsidiary of Omega IT Solutions in the UAE, known for its expertise in digital payment solutions. This collaboration marks a significant milestone in BOP's mission to introduce POS payment services, with plans to expand its coverage nationwide through Independent Sales Organizations (ISOs)."

    "The Bank of Punjab will serve as an intermediary connecting merchants, issuers, and payment networks. It will provide modern Point of Sale (POS) machines, facilitating cashless transactions at retail outlets and enabling merchants to embrace digital payments. These POS machines are designed to accept all types of cards.'

    "A ceremony was organized at a well-known hotel in Lahore to celebrate this significant milestone. The event aimed to acknowledge the crucial contributions of key individuals involved in the project. Notable dignitaries in attendance included Mr. Zafar Masud, the President & CEO of BOP, and other esteemed members of the senior management team."

    "During the event, Mr. Zafar Masud, President & CEO of BOP, emphasized the bank's commitment to modernizing retail services in Pakistan. He highlighted their focus on enhancing digital offerings and promoting economic documentation. Mr. Masud also emphasized their dedication to providing excellent services to SMEs, corporate entities, and government sectors. With the introduction of their Merchant Acquiring business, the bank aims to strengthen these strategic partnerships and offer innovative payment solutions to customers across the country."

    "The Bank of Punjab's launch of its Merchant Acquiring Business reflects its commitment to advancing digital and financially inclusive services in Pakistan. The bank's dedication to excellence and innovation is seen as a promising step towards a brighter and more accessible future for all."