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Bank Alfalah and PayFast have joined hands to enable MasterCard Payment Gateway Services (MPGS) on PayFast's payment gateway with the objective of transforming the financial services sector in Pakistan.

The partnership will make PayFast the only payment gateway solution in Pakistan to offer multiple financial instrument acceptance i.e. bank accounts, mobile wallets and scheme cards such as UnionPay and now Visa and MasterCard.

With the COVID-19 pandemic, the need for digital payments has increased exponentially. This partnership between PayFast and Bank Alfalah will thus offer acceptance of domestic and international Visa & MasterCards to PayFast's E-Commerce merchant's ecosystem.

The ambition is to make online payments seamless and frictionless for online shoppers.

Speaking about this partnership, Bank Alfalah representative Syed Muhammad Asif, Head of Unsecured Business, said "We at Bank Alfalah are pleased to collaborate with PayFast to branch out online payments further.

This will help in creating a smooth and safe experience for digital transactions for users across the country, which will be a step forward in making cashless transactions more popular."

Adnan Ali, CEO, APPS, said, "Bank Alfalah shares the same vision with us for creating a cashless society and MPGS integration with our Checkout will play a catalyst role in E-commerce payment acceptance."-PR

Copyright Business Recorder, 2020

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