TPL Trakker & HBL signs an agreement for contactless payment
- August 12, 2015
- Posted by: TPL-Trakker
- Category: Press Release
Karachi: August 12, 2015: TPL Trakker and HBL have recently signed an agreement to support Contactless Payments for HBL customers using TPL technology. The arrangement will be opening a completely new and innovative way of doing financial transactions, which would be critical to the growth of electronic payments across Pakistan. The following prominent personalities were present at the ceremony: Mr. Ali Jameel, the CEO of TPL Trakker, Mr. Faiq Sadiq, the Head of Payment Services at HBL and, other senior officials of both the organizations.
“TPL is extremely excited to be providing HBL the solution to support Contactless Payments” stated Mr. Ali Jameel, while shedding light on this venture and its core facets, during the signing ceremony. “This technology solution rendered by TPL will be pivotal in enabling NFC transactions by NFC users in Pakistan. HBL would be rolling out NFC enable point of sale terminals to the merchant locations where NFC users would be able to execute the transactions.” Mr. Jameel further added.
Speaking at the occasion, Mr. Faiq Sadiq said, “HBL is proud to be the first banking institution in Pakistan to offer NFC payments, which is gaining popularity in the payments industry worldwide. Through this innovative means of payment, we plan to introduce and promote electronic payments to the masses and take the first step in creating a national payments eco-system.”
NFC (Near Field Communication) is a new and innovative way of making payments. With this unique payment method which is also known as ‘Tap & Go’, NFC enabled consumer OR buyer will be able to pay for e-tickets and merchant outlets by simply using the ‘Tap’ function on the mobile phone at NFC enabled devices. For those who are not familiar with NFC: The buyer/sender and, merchant/receiver would bring their NFC Phones/devices close to each other to ‘Tap’ and this would initiate the transaction. A message would then be popped up on consumer/buyer mobile phone asking for the confirmation of amount intended to pay to merchant/receiver.