Allied Bank Partners with Pakistan Railways for Digital Payment Systems
A major Memorandum of Understanding (MoU) signing ceremony between Pakistan Railways and Allied Bank Limited (ABL) was held in Islamabad under the chairmanship of Federal Minister for Railways, Muhammad Hanif Abbasi.
Under this agreement, modern Point of Sale (POS) systems will be installed at 348 railway stations of Pakistan Railways, which aim to automate and make financial matters automated and transparent.
Addressing the ceremony, Railways Minister Muhammad Hanif Abbasi said that under the Prime Minister’s Digital Pakistan vision, Pakistan Railways will be completely digitalized.
He said that this project will be completed in 60 days, and passengers will be able to buy tickets and pay for other services through credit or debit cards, which will reduce dependence on cash.
He added that POS systems will enable real-time monitoring of railway revenue, which will promote transparency and accountability. In addition, the chances of financial fraud and theft will be reduced.
Under Allied Bank’s merchant services, food stalls, kiosks, and other small businesses at railway stations will also accept digital payments, promoting financial inclusion and a cashless economy.
The agreement was signed on behalf of Pakistan Railways by Director IT, Ali Raza, and Allied Bank’s Farrukh Zeb Khan.
The ceremony was attended by the top leadership of Pakistan Railways, including Chairman Syed Mazhar Ali Shah and CEO Aamir Baloch.
