Terrapay and Bank Alfalah have teamed up to offer remittance payment services in Pakistan.
A global payments infrastructure company, Terrapay describes itself as connecting diverse payment systems to move funds in real-time.
It means that customers will be able to use its network to instantly deposit money to any bank account in Pakistan.
Bank Alfalah is one of the largest private banks in Pakistan, with an international presence in Bangladesh, Afghanistan, Bahrain and the UAE.
It said the partnership reinforces the bank’s commitment to facilitating overseas partners; including fintechs, money transfer operators and money service businesses engaged in cross-border remittances.
Diaspora
Bilal Asghar, group head for corporate, investment banking & international business group at Bank Alfalah, said: “It gives us immense pleasure to partner with Terrapay […] to enhance our global coverage and make international remittances more convenient for [all] bank account holders and unbanked customers in Pakistan.”
Terrapay founder and chief executive Ambar Sur added: “We are committed to our vision of enhancing financial inclusion by connection diverse payment systems.
“Pakistan is one of the most important remittance corridors in the world and we are very excited to partner with Bank Alfalah and help overseas Pakistani diaspora send money back home through our real time, secure and reliable payment infrastructure.”
