Fintech firm Haball has signed an agreement with electronic trading platform 1Link and Meezan Bank to introduce a solution for digital payments in the Pakistani B2B space.
This arrangement will allow businesses to make inter-entity digital payments, that fulfil their existing bookkeeping, reconciliation and reporting processes using Haball’s “context driven” solution.
While Haball’s role will be of an aggregator, Meezan Bank will perform the settlement function. 1Link’s infrastructure will ensure processing of the transactions.
“Haball provides businesses a convenient way to pay digitally and instantly, bringing efficiencies in existing business processes by streamlining existing workflows and improving productivity,” says Omer Bin Ahsan, CEO, Haball.
Fatima Group is the first business conglomerate in Pakistan to adopt Haball’s B2B payment automation solution.
Sardar Naufil Mahmud, CIO, Fatima Group, states that it will use order-to-cash and subsequently procure-to-pay cycles with “full integration” to its existing ERP systems.