MoneyExpress to be launched in Pakistan through agreement between Bank Alfalah and UnionPay International
[Karachi, April 10, 2019]: UnionPay International (UPI) and Bank Alfalah have signed an agreement to launch MoneyExpress in Pakistan. MoneyExpress, powered by UnionPay, is an easy way to send money electronically to anyone in Pakistan with a UnionPay card. MoneyExpress eliminates the hindrance of wire transfers and cash, so that sending money is simple, secure and fast. Additionally, through MoneyExpress, Bank Alfalah and UnionPay cardholders abroad will be able to send money back to Pakistan to any card, bank account or mobile wallet. This will enable overseas Pakistanis to seamlessly remit money while making it convenient for their beneficiaries to receive it sitting at home.
Mehreen Ahmed (Group Head Retail Banking, Bank Alfalah) and Larry Wang (Vice President Business Development, UnionPay International) signed the agreement between the two entities in Shanghai.
About UnionPay International
UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 2000 institutions worldwide, UnionPay International has enabled card acceptance in 174 countries and regions with issuance in 52 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.
About Bank Alfalah
Bank Alfalah is the fifth largest private Bank in Pakistan with a network of over 600 branches in more than 200 cities across Pakistan with an international presence in Bangladesh, Afghanistan, Bahrain and a representative office in the UAE. The Bank provides financial solutions to consumers, corporations, institutions and governments through a broad spectrum of products and services, including corporate and investment banking, consumer banking and credit, securities brokerage, commercial, SME, agri-finance, Islamic and asset financing.