Bank Alfalah Partners With Access Group To Boost Digital Payments Ecosystem

Bank Alfalah Partners With Access Group To Boost Digital Payments Ecosystem
Karachi, March xx, 2023 – Bank Alfalah, one of the leading banks in Pakistan, has partnered with Access Group, a leading digital payment solutions provider, to enhance the digital payments ecosystem in the country. Through DigitalPass acceptance network of Access Group, the partnership will embed merchants nationwide with Bank Alfalah's point-of-sale (POS) and e-Commerce ecosystem simplifying the lives of customers who want to make digital payments.

The collaboration is part of the commitment to drive digital transformation and bring financial inclusion to all segments of society. With Access Group as a partner, the Bank will be able to offer more options to the customers and merchants, making it easier for them to make and accept digital payments.

Access Group is amongst Pakistan’s leading technology solution providers, offering enterprise-grade platforms, branchless banking solutions, enterprise loyalty solutions, fuel management solutions and payment acceptance at various forefronts. Over the years, DigitalPass – a part of Access Group, has built up one of the prominent nationwide acceptance networks for servicing its customers across Pakistan.

Bank Alfalah Limited started their merchant acquiring business in 2005 to serve merchant payment acceptance services. Currently, Bank Alfalah is one of the leading financial institutes, with over 20,000 POS machines installed in more than 200 cities throughout Pakistan.

Mehreen Ahmed, Group Head of Retail Banking, said, ‘Our partnership with Access Group is a significant step towards enhancing the digital payments ecosystem in Pakistan. Through our joint effort, we aim to simplify the lives of customers and merchants by offering them more options to make and accept digital payments and further expanding our nationwide acceptance network. With this collaboration, Bank Alfalah and Access Group are well-positioned to lead Pakistan's digital future.’

‘We are excited to collaborate with Bank Alfalah to expand their acceptance network with state-of-the-art technology and solutions. We believe that this partnership will further strengthen our ties and assist Bank Alfalah in fostering their digital payment ecosystem,’ said Imran Qureshi, President of Access Group.

This partnership comes when Pakistan's digital payments industry is growing rapidly, driven by increasing smartphone penetration, government initiatives, and changing consumer behaviour. With Bank Alfalah's quality payment acceptance and E-Access' expertise in digital payments, the two companies are well-positioned to leapfrog the ecosystem into a digital future.

About Bank Alfalah:

Bank Alfalah is a leading commercial bank in Pakistan with over 900 branches across 200 cities and an international presence in the UAE, Bangladesh, Bahrain, and Afghanistan. The bank offers various products and services, including corporate and investment banking, consumer banking, securities brokerage, commercial, small and medium enterprise, agricultural, Islamic, and asset financing to private-sector institutions and governments.

In 2018, Bank Alfalah launched its digital banking group, setting a high standard for the industry to follow with its Alfa app, a revolutionary new application that brings together an unprecedented range of services and features in one convenient platform. In 2022, the bank was awarded the best 'Digital Bank' and 'Housing Finance' across Pakistan, highlighting its commitment to simplifying and improving the financial capabilities of its customers.

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