UBL Omni, TPL Rupiya, EvantageSoft sign MoU
KARACHI: TPL Rupiya, TPL Holdings payment service vertical, has joined hands with UBL Omni and EvantageSoft to introduce cashless payments for its mass transit customers. This will allow passengers of Lahore Transport Company (LTC), a Lahore-based public transit bus system, to make daily commute payments using their UBL Omni bank accounts. The MoU was signed by representatives of the three institutions at a ceremony held in Karachi.
Under this strategic partnership, TPL Rupiya will provide extension to UBL Omni services for its existing customer base that relies on the Mass Transit System. The technology platform is being provided by EvantageSoft, a Planet N company. The solution will enable LTC passengers to avail a first of its kind “Tap n Pay” solution. TPL will issue NFC Cards for online payments and UBL Omni bank accounts will be linked for enabling these payments. TPL Rupiya, using its state-of-the-art e-ticketing system, is currently serving more than 100,000 passengers across multiple LTC bus operators.
Ali Jameel, Group CEO TPL Holdings said, ‘This project has been a challenge for us. It will be a trendsetter and will lead Pakistan in to the digital era. We have envisioned it as a project facilitating the masses. Pakistan has witnessed digital economic transformation that has changed the way how we transact and manage payments. Now we should step up to pay with a single wallet i.e. digital platform or card or mobile (tap and pay). This will further reduce the need for cash’.
Arif Sirhindi, Group Executive Payment Services Group UBL said, ‘UBL is playing an active role in digitizing Pakistan’s economy. Collaborating holds critical significance for successful transitioning to a cashless economy. All the stakeholders will have to put in their efforts to create a lasting impact. UBL aims at convenience for customers and LTC passengers can now preload their cards from UBL Omni and just tap n pay to commute.’
Nadeem Hussain, Group CEO Planet N said, ‘We are moving from cash economy to digital economy. The benefits will not end here. Once people are brought to the digital economy, we can offer them credit, life insurance, health insurance and savings programs’.