By: 2 May 2024

The partnership will drive sustainability and climate action in Pakistan's digital banking sector

Fils Partners with TPS

Fils, the UAE-based enterprise-grade digital infrastructure provider, has expanded its offerings to Pakistan with a strategic partnership with TPS, a digital banking and payments solution provider. The collaboration aims to make a lasting impact on the international stage, embedding climate action at the core of digital financial services.

It’s huge news when taking into account Fils was only launched in November 2023.

During an era marked by escalating climate change concerns, TPS and Fils have signed a groundbreaking alliance to enable businesses to embed sustainability throughout their operations. This strategic collaboration is set to empower TPS’s extensive network of card issuer clientele and merchant acquirers worldwide enabling them to embrace sustainable business practices through Fils’ enterprise grade payments platform.

In this innovative partnership, TPS’s partners will gain the ability to accurately track their environmental impact, embed carbon intelligence for their end consumer/card holder, mitigate their emissions with high-quality carbon credits, and transparently report their progress. By joining forces with Fils, TPS is cementing its commitment to boosting the sustainability of digital banking and payments technology the world over.

The landmark partnership with TPS signals Fils’ expansion into Pakistan, providing its market-leading sustainability infrastructure to banks and financial institutions across the country. With this advancement, Pakistan’s commitment to combating climate change is strengthened, now equipped with the tools needed to adopt sustainable infrastructures and advance toward a net-zero economy.

Nameer Khan, chief executive officer of Fils, said: “Today’s exciting partnership with TPS will make a real impact in dealing with climate change, providing access to high-quality carbon credits via our robust, comprehensive and transparent infrastructure. Our technology-first approach to sustainable action enables SMEs, large corporations and other organisations to seamlessly embed sustainability throughout their global operations.”

The latest sustainability capabilities complement TPS’s comprehensive suite of services, designed to enhance digital payment solutions for banks, fintechs, merchants, telecoms, and payment processors adopting cutting-edge payment technology. TPS’s emphasis on seamless plug-n-play integrations and digital-first platforms simplifies the process for organisations to introduce sustainable banking and climate action products/services, guaranteeing a smooth customer experience.

In an effort to eradicate greenwashing, Fils’ infrastructure employs blockchain technology to accurately track emissions and carbon credits. This approach prevents the duplication of credits and ensures clear transparency. Fils’ integrates blockchain throughout its full-stack infrastructure for corporate climate action, enhancing both accountability and trust, propelling organisations towards their net-zero emissions targets.

Shahzad Shahid, chief executive officer at TPS, stated: “As a leader in the digital payments industry, we recognise the importance of integrating climate action into our operations and infrastructure. Our collaboration with Fils underscores our commitment to providing a comprehensive suite of digital banking and payments technology, enabling our partners to seamlessly embed sustainability throughout their operations.”

Image: Fils, TPS

Robert Welbourn
Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.