PAKISTAN, Karachi, 26th February, 2024 – Bank Alfalah, one of the largest commercial banks in Pakistan has partnered with easypaisa, Pakistan’s leading digital financial services platform, to enable customers to conveniently collect international remittances into their mobile wallets.
This collaboration aims to simplify international remittance processes and provide ease and convenience to millions of customers. Users will now be able to seamlessly collect international remittances in their mobile wallets through over the counter (OTC)-to-wallet conversion.
Customers can also utilize their funds in a wide range of financial services, including Inter-Bank Fund Transfer (IBFT), savings, mobile top-ups, and various other use cases available on the easypaisa App. This innovative solution will also enable customers, who send remittances through Bank Alfalah’s sending partners, to receive funds directly into their easypaisa accounts, 24/7.
Commenting on the partnership, Kashif Ahmed, Acting CEO, Telenor Microfinance Bank & easypaisa said, “We are excited to partner with Bank Alfalah Limited to enhance our international remittance services. This collaboration is aligned with our commitment to providing millions of Pakistanis with convenient and accessible digital financial solutions. By enabling customers to collect international remittances in their easypaisa wallets, we aim to empower them with greater control over their funds and revolutionize their overall banking experience.”
Farooq A Khan, Group Head Corporate, Investment and International Business Group, Bank Alfalah, said, “This strategic partnership aims to provide innovative solutions that cater to the evolving needs of our customers. By leveraging the extensive reach of the easypaisa platform’s user base, we aim to make international remittances more accessible and convenient while ensuring the highest level of security and reliability.”
Both easypaisa and Bank Alfalah are proud to support the Pakistan Remittance Initiative (PRI) in promoting legal and hassle-free channels for overseas Pakistanis to send money back home. International remittances play an important role in the overall economic stability of the country and the positive impact they create in improving the lives of millions of families.
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About easypaisa / Telenor Microfinance Bank Limited
easypaisa, powered by Telenor Microfinance Bank is at the forefront of revolutionizing fintech in Pakistan by delivering innovative, cutting-edge technology solutions. We began our journey in 2005 by establishing a national footprint, with the launch of micro-lending programs. In 2009, we created history by launching the country’s first mobile banking service that has evolved to become the most used digital payments platform.
Backed by the largest fintech in the world, Ant Group (an affiliate company of Alibaba Group), and the leading multinational organization across Scandinavia and Asia, Telenor Group, we aim to promote financial inclusion by empowering all Pakistanis to adapt convenient and secure digital financial solutions.
About Bank Alfalah:
Bank Alfalah is a leading commercial bank in Pakistan, boasting over 900 branches across 200 cities and an international presence in the UAE, Bangladesh, Bahrain, and Afghanistan. The bank offers a wide range of 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.
