Merchant acquisition: Bank Alfalah among top companies

LAHORE: According to the recently released The Nilson Report, a leading publication covering payment systems worldwide, Bank Alfalah is ranked among top merchant acquiring companies in the Middle East and Africa region for the year 2012, getting the 11th spot this year compared to 12th position in 2011, says a press release. The 22 largest acquirers in this region collectively processed $113.51 billion in spending volume from 1.47 billion transactions. A key milestone for Bank Alfalah was touching the Rs39.2 billion volume mark in 2012, which the bank says is the highest ever that the industry has recorded. Bank Alfalah’s Group Head Consumer Finance Khurram Hussain said, “Bank Alfalah is currently the largest acquirer of plastics in the country and with our widespread network of POS terminals nationwide, we hope to continue developing a payments ecosystem that creates transacting convenience for our customers.”

Published in The Express Tribune, August 7^th, 2013.

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