Bank Alfalah has signed an agreement with 1Link Guarantee Limited (1Link) for local POS (point of sale) Switch in Pakistan.
Under this agreement, over six million proprietary cards issued by 1Link member Banks and JCB cards will be accepted on Bank Alfalah's POS terminals to conduct retail transactions. This arrangement would also allow local banks to issue proprietary debit cards for domestic use only. In addition, loyalty redemption transactions would also be conducted on the Bank Alfalah POS for card based loyalty programs hosted by 1Link.
On this occasion, Khurram Hussain, Group Head Retail Central and North & Consumer Banking, Bank Alfalah said: "We are immensely pleased to be entering into an alliance with 1Link to facilitate the acceptance of their cards on Bank Alfalah's POS terminals in Pakistan. At Bank Alfalah, we remain committed to promoting digitisation in Pakistan and our arrangement with 1Link will enhance the digital payments ecosystem by encouraging electronic POS transactions in the country."
Faisal Ejaz Khan, CEO, 1Link said: "This partnership holds great potential and this start is just the tip of the iceberg, as it will go a long way in exploring the full potential of digitisation in this country of more than 180 million people. Time and again, Bank Alfalah has shown "the way forward" by creating value for the people of Pakistan. We at 1Link are very excited at the prospects of the range of services that we can offer through the strength of the Bank Alfalah POS terminals in Pakistan." -PR