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Islamabad, Bank Alfalah, a leader in commercial and digital banking in Pakistan, has launched the country’s first Digital Payments Sales and Service Centers. These centers, located in Karachi’s Badar Commercial DHA and Disco Bakery Gulshan, are designed to provide convenient access to digital payment and financing services for merchants and small businesses.
According to Bank Alfalah, these digital payments hubs represent a strategic move by the bank to support the small business sector in Pakistan. In 2023, Bank Alfalah saw significant achievements in digital banking, winning the Best Digital Banking award at the Pakistan Banking Awards for the second consecutive year. The bank’s digital channels facilitated nearly 80% of counter transactions and 99% of eligible account openings this year.
The centers are part of Bank Alfalah’s broader network, which includes over 984 branches and the introduction of Pakistan’s First Digital Lifestyle Branch in 2023. The new digital payments centers offer a range of services targeting merchants and small-scale businesses. These include automated fund withdrawals and deposits, digital merchant onboarding, payment card issuance, instant cash/cheque management, and working-capital solutions.
The Badar Commercial DHA center’s inauguration was attended by notable figures, including Deputy Governor of the State Bank of Pakistan, Dr. Inayat Hussain, and senior management of Bank Alfalah, like President and CEO Atif Bajwa. Dr. Hussain highlighted the importance of digitization for inclusive banking in Pakistan and the State Bank’s commitment to this transformation.
Atif Bajwa, President and CEO of Bank Alfalah, emphasized the bank’s dedication to providing efficient banking services, particularly to small businesses. He described the new centers as one-stop solutions for various merchant needs and a testament to the bank’s innovative approach.
The Digital Payments Sales and Service Center offers a wide array of services through the Alfa Business Merchant App, including digital onboarding, merchant acceptance services, financing, payment card services, online web-store services, merchant cash and cheque management, digital fee collection for educational institutions and restaurants, merchant savings plans, and shopping on instalments with QR code scanning.
Bank Alfalah’s initiative reflects its commitment to making banking services more accessible and supporting the growth of small businesses and merchants in Pakistan. The bank plans to expand these services to other market areas and cities, aiming to foster financial inclusion and reduce cash circulation in the economy.
The post Bank Alfalah Inaugurates Pakistan’s First Digital Payments Centers for Merchants and Small Businesses appeared first on Pakistan Business News.