1LINK and RedRetail recently signed an agreement to enable bill payments across retail stores in Pakistan.
RedRetail, a joint venture of REDtone Group and iDMission LLC, will be assuming the role of bill initiator using 1LINK’s Bill Payment Service (BPS) which is host to over 1,000 billers and enables entities to collect fixed/invoice based and variable/top-up payments.
Pakistan is growing aggressively in terms of financial inclusion via the country’s economic policies.
Through this collaboration, consumers will have the facility to pay their bills for all billers onboarded on 1LINK Bill Payment platform including utility bills, education feesand government associated payments, throughretail/kiryana stores. This will give consumers the ease and accessibility with increased access pointsofpaying their bills at their convenience.
Najeeb Agrawalla, CEO of 1LINK said, “1LINK is pleased to partner with RedRetail for enabling retailers to collect bills via 1LINK BPS. Customers today want convenient ways to engage with and manage their daily financial lives. Retailers under REDRETAIL will empower customers to make bill payments anytime, anywhere through a reliable and secure channel.”
Speaking on the occasion, Mahnoor Nadeem, CEO of REDtoneDigital Services said, “With Pakistan, what we’ve seen is a market ready for financial inclusion and on-demand serviceability. Our agreement with 1LINK ensures that we can offer disruptive services to the consumer right at their neighbourhood stores.”
1LINK, owned by a consortium of 11 banks, is Pakistan’s first fully licensed PSO/PSP, and largest switch and payment system, providing a host of valuable online banking services like ATM switching, Bills Payment, Inter Bank Funds Transfer, Fraud Risk Management, Switch Dispute Resolution, International Payment Schemes, PayPak – Domestic Payment Scheme.