TPS Worldwide 4.71

TPS is well placed in the fast-evolving payments world because it brings both the maturity required by a financial institution and the speed, flexibility and innovation demanded by the current times. In the 20 years of its existence, TPS has helped transform the banking industry in Pakistan from a broken infrastructure back in mid 90s to now a fully integrated and online payments ecosystem. TPS works on the infrastructure – its transaction processing and payments platform – which can unify systems and enable innovative services.

With the combination of innovative minds, technology and its diverse banking experience, TPS enabled nationwide real-time funds transfer, known as IBFT, allowing an account holder to push money from his mobile phone or any other channel to any bank account of any bank across the country – and it’s instant. Pakistan became one of the first few countries to launch such a service in 2006, with the 1LINK national switch. This IBFT service disrupted cheques and cash, back in those days.

Today, TPS powers electronic payments for more than 130 customers and telecoms. Its customer base spans across the Middle East, South Asia, Africa and Europe with an increasing footprint across other regions.