Khushhali Bank Signs TPS: IRIS Payment Platform for Digital Transformation


With Khushhali Microfinance Bank Limited on its way to expanding its customer base, the financial institute recognizes the need to continue to offer innovative services to meet consumer demands. A future-proof payments platform is critical to its digital transformation strategy. Therefore, they selected TPS’ Omni-Channel Payment Platform to ready itself for the transformative forces that are shaping the future of banking.

The new strategic partnership with TPS will see Khushhali Microfinance Bank leverage the capabilities of IRIS card management and transaction switching platform. The fundamentally flexible platform will transform the bank’s digital payment infrastructure and allow quick roll-out of new and innovative services.

Read: Chinese Payments Giant Ant Financial Enter Pakistan via Telenor Pakistan

As part of the agreement, TPS will also enable the bank to issue EMV compliant PayPak Debit Cards. With PayPak domestic scheme in place, the bank will be able to provide efficient and cost effective banking services. Cards holders will have the ease of making cash withdrawals at all 1Link enabled ATMs across the country.

Speaking on the occasion, Ghalib Nishtar, President & CEO, Khushhali Microfinance Bank, said

“Being Pakistan’s first and largest microfinance bank, we are on a mission to facilitate an environment where microfinance can prosper in the country. With a powerful payment platform driving our digital payment services, we will be able to meet the payment needs of microfinance sector in Pakistan and rapidly scale up our customer base” 

Read: Third Time’s A Charm: PTCL Signs Telenor Pakistan for Fiber Leasing

Shahzad Shahid, CEO, TPS, said:

“TPS is proud to be trusted by the largest microfinance bank. Our latest payment platform IRIS5 is an enabler of digital financial services and it gives unparalleled performance and reliability needed for customer trust. It excites me that with KB now added to our Pakistani microfinance banks list, TPS shall have more contribution in helping the sector achieve its 2020 goal to reach out to 10m customers.”