Haball, Pakistan’s leading B2B payments automation platform, in partnership with Meezan Bank – Pakistan’s first and largest Islamic bank, has recently announced the launch of Blink Direct, a service that will enable digital payments for Pakistani businesses and their supply chain partners.
The new service will accelerate digital payments to payees while completely removing the friction caused by manual reconciliation errors. Meezan Bank customers will be able to link their bank accounts with the Haball App directly for performing transactions while reaping the benefits of a cashless supply chain, a statement said on Thursday.
The Blink Direct facility, will allow Haball to address the challenge of delays in invoice reconciliation; an issue that plagues many large and small businesses, and causes payment delays as a result of which the working capital of the business is not managed efficiently.
The service also maps each payment, invoice, pay order etc. to the context of why a payment was initiated.
This allows corporate and distributors to reconcile their invoices and payments automatically, reducing errors and time required to reconcile every payment.
Meezan Bank is the first bank in Pakistan to enable paperless digital payments for businesses using the Haball platform.
Blink Direct is now available as a standard offering in the Haball App and Platform suite, eliminating manual payments and offering businesses greater transparency for the entire value chain including retailers, distributors and corporate entities.
Omer Bin Ahsan, CEO – Haball commented on the occasion, “Blink Direct enables money to move digitally throughout the supply chain in the fastest and most reliable manner.
“Haball has naturally progressed towards aggregating multiple payment options available in the country to give customers the freedom to transact through whichever medium they prefer, whether through their bank’s existing channel, through Haball’s App or through branches and agent networks.”
Ariful Islam, Deputy CEO – Meezan Bank said: “By extending direct payment services to its customers using Haball, Meezan Bank is delighted to be able to solve the problems currently faced by many companies – needless roadblocks in the payments value chain and provide seamless and integrated digital payment services to enable a cashless supply chain.
“We are very excited to be part of this innovation and are confident Inshallah that the supply chain vertical will soon benefit from the value of digital payment solutions.”