Grocery on instalments: Faysal Bank, Naheed Pakistan announce partnership

KARACHI: Faysal Bank and Naheed Pakistan have announced a partnership to bring grocery on installments facility to all Faysal Islami Noor Card customers at a zero percent profit rate.

This collaboration marks the first time in Pakistan that customers can avail installment financing on grocery shopping in a Shariah-compliant way, providing greater convenience and ease in their lives. Customers can avail financing on a minimum spend of Rs 25000 with Naheed.

The partnership aims to improve payment cycles for Faysal Bank’s merchant partners while making payments easier for Faysal Bank customers through Naheed Pakistan. Naheed benefits from a higher conversion rate, improved average order value, and an increase in sales by offering installments at checkout.

Feroz Khan, Head Unsecured Business & Payment Services, Consumer Finance, Faysal Bank, expressed his excitement about the partnership, “This partnership is a testament to our vision of empowering customers with Shariah compatible flexible financing options.”

Copyright Business Recorder, 2023