Whereas UBPS Agreement and IBFT
Agreement entered into by 1-Link on behalf of its members also apparently fix the charges in respect of both services.
today is the service which facilitating thousands of big and small businesses and millions of Pakistanis everyday.
The major portion for the increased number of overall PRISM transactions in this quarter was contributed by IBFT
which increased by 11.
Similarly, 1-Link has signed 'Utility Bill Payment Agreements' with utility companies and 'Internet Fund Transfer Agreement' with TPS Pakistan (Pvt) Limited which, prima facie, fix the rates for UBPS and IBFT
During the last decade, banking industry has undergone a radical transformation from conventional to paperless environment where one of the major key enablers is interoperability, to which 1LINK has immensely contributed with its pioneered services such as shared ATM networks, and IBFT
Today we are the market leaders in IBFT
transactions through digital channels with the best in class ATM and Online Banking solutions in the industry.
has largest share in overall PRISM transactions in terms of volume while securities transactions has highest share in terms of value which are 78.
A statement issued here on Monday said that with this pioneering initiative, Xpress Money through KASB Bank, will be the first to provide the IBFT
service instantly to customers, which until now took at least 24 hours to get credited.
In recent months BB players have increasingly moved to the connectivity with payment infrastructure especially linking the wallets of their customers and agents to ATM switches and IBFT
(Inter Bank Fund Transfer an online real - time connectivity).
2 percent in value of transactions, the share of IBFT
(interbank funds transfer) was 3.
Similarly, 1-Link has signed Utility Bill Payment Agreements with utility companies and Internet Fund Transfer Agreement with TPS Pakistan (Pvt) Limited which, prima facie, fix the rates for UBPS and IBFT
for Easypaisa, the service has become the first mobile money service in Pakistan to become interoperable with the existing banking infrastructure.