ConnectPay, a subsidiary of THK Solutions, has inked a tripartite agreement with 1LINK and Faysal Bank to digitize their payment collection methods. The collaboration allows ease of B2B and B2C payment collection through different service channels of banks.
The agreement reveals that THK Solutions will become the aggregator while Faysal Bank will cover the settlement function. This collaboration will empower the three parties to ‘jointly provide an efficient, cost-effective and strong payment infrastructure’. Commenting on the development, THK Solutions CEO Anwer Matin said, “This strategic alignment will make online payment transaction infrastructure accessible to all business entities and provide convenient, quick payment acceptance capabilities.”
Faysal Bank’s Head of Consumer Finance Syed Zaheer Abbas said, “This collaboration will benefit ConnectPay customers besides further enhancing operational ease.” 1LINK CEO Najeeb Agrawalla said, “We need to stay competitive and offer the best solutions to our customers. We are confident that our customers will be appreciative of the expediency that will be enabled in the payments industry.”