KARACHI: Bank Alfalah Limited has introduced a new service under its digital banking portfolio called ‘Alfa Business App’ to facilitate small and medium enterprises to carry out their everyday transactions digitally, a statement said.
The app would support business operators through a range of useful features. After downloading the app from Google Play Store, the users just need a valid CNIC to sign up in compliance with all regulations. Merchants would be granted an initial monthly transaction limit of Rs500,000 simply by completing the registration process.
Businesses could also avail financing at the lowest mark-ups in the industry from within the application against up to 70 percent of their transactional volume. This is an automatic credit line generated based on the merchants throughput from the app.
BAFL Digital Banking Group Head Yahya Khan said, “Bank Alfalah has always been at the forefront of innovation. With the launch of Alfa Business, we have revolutionised payment acceptance for merchants across Pakistan. From a kiryana store to a supermarket, a merchant can simply self-register and start accepting QR payments.”