Faysal Bank, Mercantile partner

KARACHI: Faysal Bank has partnered with Mercantile Pakistan (authorized Apple distributor) to provide a facility of buy now pay later (BNPL) at a zero percent profit rate to its customers using its payment cards, a statement said on Saturday.

This is for a first in Pakistan that customers can avail BNPL facility to buy official Apple products from the authorised retail outlets. During the rollout phase, over 100 mercantile registered resellers will start offering Apple official products on 3, 6, 9 and 12 months’ easy instalment plans.

Mercantile products will also be available on Faysal Bank DigiMall, Faysal Bank's online marketplace, and via PIP options through call centers.

The partnership aims to enable easy payments for Faysal Bank customers via Mercantile Pakistan authorised channels while simultaneously leveraging on the bank’s platform's capacity to empower its authorized businesses through faster payment cycles.

Speaking at the occasion, Aneeq Malik, head of consumer finance and payment services at Faysal Bank, said the partnership was a testament to a vision of empowering customers with flexible financing options. “This card-led product will also enable to rekindle growth among the countless businesses of different sizes, during this period of continued economic uncertainty,” he said.