Karachi, Pakistan – National private bank Bank Alfalah has partnered with fintech platform Paymob to drive payment acceptance in Pakistan, which will empower over 100,000 merchants across Pakistan and launch new innovative services in e-commerce acceptance for online merchants.
Through the partnership, both entities have collaborated to activate and support merchant acquisition and integration services across Pakistan. This is Paymob’s first collaboration outside its Egyptian home market and comes as part of its expansion strategy in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region.
Bank Alfalah’s partnership with Paymob will drive financial inclusion and lead the way for swift payment acceptance, and will follow Bank Alfalah’s objective to support merchant acquisition and integration services across the country. This collaboration will enable an instant onboarding feature for the first time in Pakistan using Paymob’s advanced solutions such as payment gateway integration, POS terminals and SoftPOS.
Atif Bajwa, President and CEO of Bank Alfalah said, “Bank Alfalah is proud to partner with Paymob in one of Pakistan’s largest Fintech partnerships. Our collaboration will aim to serve thousands of merchants across Pakistan and the industry-first ‘Tap-on-Phone’ service will allow us to reach even the most remotely located merchants in Pakistan.”
Furthermore, the instant onboarding feature made by the partnership is empowered by the digital onboarding regulations recently published by the State Bank of Pakistan and comes as one of many positive steps the State Bank has led to enable MSME merchants in order to further digitise the ecosystem.
Meanwhile, Alain El-Hajj, COO of Paymob, commented, “This is a remarkable moment for Paymob. We are honoured to partner with Bank AlFalah under its progressive leadership to provide reliable and seamless digital payment services for SMEs across Pakistan. With this partnership we aim to contribute to the shared vision of economic growth and digitization of SMEs.”