The Bank of Punjab (BOP), recognized as one of the nation’s premier commercial banks, has
embarked on a pioneering journey by unveiling its cutting-edge Point of Sale (POS)
payment solutions and online payment gateway services. BOP is the 7th Bank offering this
service out of the total of 41 commercial and specialized banks in the country. This strategic move reinforces BOP’s commitment to enriching its digital retail offerings and expediting the evolution of
the nation’s digital ecosystem. In pursuit of this ambitious endeavor, the Bank of Punjab (BOP)
has forged a strategic alliance with Pay Net Private Limited, a wholly-owned subsidiary of Omega IT Solutions United Arab Emirates renowned for its expertise in Digital Payment business
solutions. This collaboration signifies a pivotal milestone in BOP’s mission to introduce Point-of-Sale (POS) payment services to the market, with plans to expand its reach through additional
Independent Sales Organizations (ISOs) for comprehensive nationwide coverage.
Figure 1: Zafar Masud (President & CEO – BOP) joined partners on the occasion of the launch of BOP Smart Merchant Solutions. The Bank will act as a link between merchants, issuers and
payment networks by offering them state-of-the- art POS machines and make cashless transactions
available over the counters, enabling retailers to benefit from the adoption of digital payments. The POS
machines support acceptance of all types of cards.
To commemorate this momentous occasion, a ceremony was held at a prominent local hotel in Lahore. The event served as a platform to recognize the invaluable contributions of key individuals who
played pivotal roles in this project. Dignitaries present at the ceremony included Mr. Zafar Masud, President & CEO of BOP, and other esteemed members of the senior management team.
Speaking on this occasion, Mr. Zafar Masud remarked, “The Bank of Punjab is diligently spearheading the modernization of retail services within the country by enhancing our digital offerings and promoting economic documentation. We are already committed to providing top-notch services to SMEs, corporate entities, and government sectors. With the launch of our Merchant Acquiring
business, we aim to fortify these strategic partnerships, empowering BOP to deliver innovative and industry-leading payment solutions to customers nationwide.”
As the Bank of Punjab embraces the future with its Merchant Acquiring Business, it underscores its dedication to fostering a digitally advanced and financially inclusive landscape in Pakistan.
Figure 2: Zafar Masud (President & CEO – BOP) is performing the first transaction using the BOP Smart Merchant solution.
The bank’s unwavering commitment to excellence and innovation
promises a brighter and more accessible future for all.
