Bank Alfalah is committed to continuing with its agenda to be a key player in Pakistan’s national financial inclusion strategy that also focuses on provisioning of the better and increased access to finance by Consumers and SMEs. The strategy also focuses on the digitization of the financial transactions.
Bank Alfalah recently partnered with a leading provider of national payment network (1Link) to introduce Classic Debit Card available at PayPak network. PayPak (just like international payment networks e.g. Mastercard, Visa, UnionPay and JCB etc) is Pakistan’s first domestic payment scheme that aims to provide low-cost payment services to Pakistani citizens.
The customers will be allowed to use Bank Alfalah’s Classic Debit Card across the Pakistan at any ATM (supported by 1Link) and also making any Point of Sale (POS) transactions using PIN Code for customer authentication. The initiative will help the domestic market since many merchants in Pakistan do not accept payments by MasterCard or Visa network enabled cards or charge heavy fees for processing such cards.
For further details, please see Bank Alfalah website.