K-Electric (KE), Pakistan’s only vertically integrated power utility, has joined hands with Avanza Solutions, one of the leading Fintech organizations across the globe, to implement Real Time Payment System (RTPS).

Real Time Payment System (RTPS) is based on Avanza’s e-BPS which is a bill payment platform powered by Rendezvous, ‘an enterprise middleware’, that enables organizations to provide delivery channel services. e-BPS implementation automates all details of bill payment gateway operations and ensures that transactions are executed from all the sources in a uniform, secure, and efficient manner.

RTPS will facilitate bill payment by directly interlinking all the banks and KE. The middleware facilitates transactional processes and transaction routing functionality by providing a real-time bill inquiry and bill payment services of KE data to banks on a real-time basis. Implementation of the new system will modernize KE’s existing bill payment infrastructure and accelerate the process of onboarding new banks / alternative distribution channels (ADC).

Digitalization of front and back-end payment infrastructure has been a core element of KE’s wider corporate modernization efforts over the past year. Recently, the power utility started to facilitate utility bills payments via credit and debit cards on its corporate website. KE is the first power utility in Pakistan to offer this service. Additionally, we have partnered with leading e-commerce platforms to enable utility bill payments from home. RTPS, once fully implemented, will also lead to wider acceptance of bill collection by the consumers and banks alike. KE plans to on-board payment service providers across all verticals on its platform including, Bank, Telecoms, Payment Service Providers (PSP).

Present at the signing ceremony were Muhammad Aamir Ghaziani, Chief Financial Officer KE, Amer Zia, Chief Distribution Officer, KE, Mahmood Kapurwala, Chief Executive Officer, Avanza Group, Jalil Ahmed Farooqui, Business Development Head (Asia Pacific), Avanza Solutions and Fawad Zia Siddqui, Senior Account Manager (Asia Pacific), Avanza Solutions.

While sharing his views at the ceremony, Aamir Ibrahim, CEO Jazz, said, “Our continued partnership with USF is a reflection of Jazz’s commitment to bridge the digital divide and connect our fellow countrymen with fast and reliable mobile broadband. Our ambition to digitally empower Pakistan is fueled through enhanced connectivity and by creating equal opportunities for all.”

Also, sharing his thoughts at the ceremony, CEO USF, Haaris Mahmood Chaudhary said: “This project will benefit an unserved population of 0.34 Million in 263 unserved mauzas, thereby covering an unserved area of 4,002 sq.km. of Jhelum and Chakwal districts. By providing mobile broadband to the unserved muazas across the country, USF is playing a crucial role in the socio-economic progress of the people at the grassroots level and have opened the doors of opportunities for the masses. USF will continue to work towards achieving the vison of Digital Pakistan”. Furthermore, he thanked the Federal Minister and the Ministry of IT and Telecommunication for their continued support and guidance.