KARACHI: Bank Alfalah and TerraPay, a global payments infrastructure company, have announced a partnership for offering remittance payment services in Pakistan. Through this partnership, overseas Pakistanis will be able to use TerraPay’s partners’ network to instantly deposit money to any bank account in Pakistan.
Bank Alfalah has remittances’ inflows of over one billion US dollars. Speaking on the launch of the partnership, Bank Alfalah’s Group Head for Corporate, Investment Banking & International Business Group Bilal Asghar said that partnership with TerraPay will enhance the Bank’s global coverage and make international remittances more convenient for [all] bank account holders and unbanked customers in Pakistan.
Founder and CEO of TerraPay said, “We are committed to our vision of enhancing financial inclusion by connecting diverse payment systems. Pakistan is one of the most important remittance corridors in the world and we are very excited to partner with Bank Alfalah”.