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Allied Bank Pakistan taps BPC to launch its SME acquiring business

Nadia Benaissa Sep 8, 2022 8:50:52 AM

September 8, 2022: Named the 2021 Bank of the Year in Pakistan by The Banker Magazine, Allied Bank (ABL) has selected BPC to support its expansion as an acquirer. The announcement was made during a signing ceremony held today in the presence of the senior leadership team of both respective companies. Both organisations will collaborate to support merchant and businesses’ acquisitions in addition to enabling payment excellence when made in-store, online and in-app.

The agreement underlines the strong market demand for faster, better, and more secure payment services for businesses across Pakistan.  The nation's SME and merchant sector represents the backbone of the economy, with more than 5 million businesses across the region. SMEs contribute 40% of Pakistan’s total GDP and 25% to overall exports and are also the driving force behind a more inclusive and digital economy. So far,  80,000 POS have been adopted to support payment transactions. 

ABL is committed to helping this sector continue its digital journey and will leverage the latest technology by BPC  to make it easy for SMEs to open a business account online and accept payments, as well as manage how they are handling their finances, forecasting, and performance.

BPC, the leading payments solution provider will support Allied Bank from onboarding businesses to enabling the widest range of payment acceptance services, ensuring customers can pay businesses the way they want to in a fast and secure way.  Payments can be made with a QR code, direct account transfer, a wallet debit, an EMV or contactless card VISA, MasterCard, Union Pay International, PayPal debit/credit cards, or a tap from an NFC device, all using best-in-class security from 3DS, ACH and transactions monitoring. 

The agreement between Allied Bank and BPC includes the adoption of BPC’s SmartVista platform and a series of micro-services for omnichannel merchant onboarding and management, merchant portal and apps, POS and QR acquiring, fraud, and risk prevention. This is in addition to the SmartVista integration platform, which helps bring together internal systems and third-party partners. 

Sohail Aziz, Chief Digital Banking Officer, Allied Bank commented: “We are excited to partner with BPC to start the merchant acquiring business. This journey is evidence of our commitment and ambition to impact the payments ecosystem in Pakistan. I believe this will enable the businesses through innovation in POS, eCommerce, and QR solutions to grow and expand further”.

Ahson Saeed, Managing Director, BPC Pakistan, commented: “Payments acceptance has become the number one concern for businesses and merchants as it impacts critically on their bottom line and customer retention. By selecting BPC and its SmartVista platform, Allied Bank can be sure that their business clients will be able to accept payments in addition to offering a user-friendly, safe, and convenient experience to buyers across Pakistan.”

 

About Allied Bank

ABL is one of the leading banks in Pakistan having a large network of over 1425 online branches & 1570 ATMs in Pakistan and offers various technology-based products and services to its diverse clientele. https://www.abl.com/

 

About BPC

Founded in 1996, BPC has transformed over the years to deliver innovative and best-in-class proven solutions which fit with today’s consumer lifestyle when banking, shopping, or moving in both urban and rural areas, bridging real life and the digital world. With 350 customers across 100 countries globally, BPC collaborates with all ecosystem players ranging from tier one banks to neobanks, Payment Service Providers (PSPs) to large processors, e-commerce giants to start-up merchants, and government bodies to local hail riding companies. BPC’s SmartVista suite comprises cutting-edge banking, commerce, and mobility solutions including digital banking, ATM & switching, payments processing, card and fraud management, financial inclusion, merchant portals, transport and smart cities solutions. www.bpcbt.com