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Bank Alfalah Pioneers Pakistan’s First Digital Payment Sales and Service Centers
Inaugural Launch in Vibrant Market Areas
Bank Alfalah, a prominent player in the commercial and digital banking sector, has introduced Pakistan’s inaugural Digital Payment Sales and Service Centers. Strategically positioned in the lively Badar Commercial DHA and Disco Bakery Gulshan areas of Karachi, these hubs are designed to facilitate and provide accessible solutions for merchants and small-scale businesses within the digital ecosystem.
Unprecedented Digital Banking Success in 2023
Recipient of the Best Digital Banking Award
In 2023, Bank Alfalah celebrated unprecedented success in digital banking, securing the prestigious Best Digital Banking award at the renowned Pakistan Banking Awards for the second consecutive year. Notably, nearly 80% of counter transactions and 99% of eligible account openings this year were accomplished through the bank’s seamless and paperless digital channels.
Introduction of Innovative Digital Payment Sales and Service Center
Empowering Small-Scale Businesses
With an extensive network comprising 984 branches and the launch of ‘Pakistan’s First Digital Lifestyle Branch’ in 2023, Bank Alfalah is now unveiling an innovative digital payments sales and service center. This center, located at Badar Commercial DHA, was inaugurated by Dr. Inayat Hussain, the honorable Deputy Governor of the State Bank of Pakistan, alongside other dignitaries and Alfalah senior management.
Digital Payments Services Catering to Merchants
Enhancing Financial Convenience
The Digital Payments Sales and Service Center is set to be a pivotal point for over 200 merchants. It will facilitate automated daily fund withdrawals and deposits, offering services such as self-service digital merchant on boarding, payment card issuance, instant cash/cheque management, and addressing working-capital needs.
Endorsement from State Bank of Pakistan
Digitization as the Future of Inclusive Banking
Dr. Inayat Hussain, Deputy Governor of the State Bank of Pakistan, emphasized the significance of digitization for inclusive banking in Pakistan. He expressed the State Bank’s commitment to collaborating with banks to drive this transformative journey, endorsing innovative ideas like digital payments sales and service centers for the financial convenience of people in Pakistan.
Bank Commitment to Innovation
Empowering Small Businesses
Atif Bajwa, President and CEO of Alfalah, highlighted the bank’s commitment to innovation, stating that the introduction of Digital Payments Sales and Service Centers reflects their dedication to providing relevant and efficient banking services. These centers serve as one-stop solutions, addressing the diverse needs of valued small business and merchant customers.
Services Offered by the Digital Payments Sales and Service Center
Alfa Business Merchant App Integration
The Digital Payment Sales and Service Center, integrated with the Alfa Business Merchant App, offers a range of services, including digital onboarding, merchant acceptance, financing, payment card services, online web-store merchant services, cash and cheque management, fee collection services, merchant savings, and shopping on instalments with QR code scanning.
Strategic Expansion Plans
Mission to Make Banking Accessible Everywhere
Bank Alfalah strategically placed these centers to fulfill its mission of making banking services accessible to everyone, everywhere, leveraging its digital strength. The bank has plans to expand further into other market areas and cities, aiming to extend its digital payment services to a broader spectrum of small businesses and merchants, fostering financial inclusion and reducing cash circulation in the economy.