Bank Alfalah Introduces Alfa Business to Enhance Merchant Digital Payments

Karachi: Bank Alfalah has announced the launch of ‘Alfa Business – Merchants Payment Solutions,’ a new initiative aimed at advancing the digitization of commerce across Pakistan. This program is designed to help merchants transition from cash transactions to digital payments, fostering progress towards a cashless economy.

Alfa Business is tailored to support a wide range of merchants, offering tools for digital payment acceptance, sales tracking, invoicing, and digital bookkeeping. Features like instant Raast QR card issuance and integrated access to finance make it a comprehensive solution for businesses to manage transactions digitally.

The initiative is bolstered by Bank Alfalah’s ‘Digital Payment Centres’ located in key commercial areas of Karachi, Lahore, and Islamabad. These centres serve as walk-in hubs where merchants can access essential financial services and experience a seamless shift to digital platforms.

Muhammad Yahya Khan, Chief Digital Officer at Bank Alfalah, emphasized the importance of digitizing commerce at the grassroots level. He stated that Alfa Business aims to provide secure financial tools to merchants, empowering them to transition from cash to digital transactions and expand their businesses.

Key facilities at these centres include high-limit ATMs, cash deposit machines, and digital cheque deposit kiosks, all available 24/7. Merchants also have the convenience of opening and operating sole proprietor accounts without needing to visit a bank branch.

The Alfa Business App further enhances digital payment usage by integrating payment acceptance, business management, and financing access on a single platform. It supports QR payments, digital khata management, and offers business insights for informed decision-making.

Moreover, the app facilitates instant financing, prepaid bank card issuance, and a ‘Buy Now, Pay Later’ feature that ensures immediate merchant settlement. It also integrates with cheque deposit kiosks for AI-based instant credit and allows digital account opening for sole proprietors linked to their payment activities.