Bank Alfalah and ACE Money Transfer to facilitate overseas
Pakistanis
Bank Alfalah, a prominent commercial bank in Pakistan, is reinforcing its enduring partnership with ACE Money Transfer, a leading fintech platform, to facilitate seamless remittances for overseas Pakistanis.
In a significant development, Bank Alfalah and ACE Money
Transfer proudly announce their collaboration with Babar Azam, Captain of the
Pakistan National Cricket Team, who has joined them as an esteemed brand
ambassador. This strategic alliance aims to raise awareness among overseas
Pakistanis about the importance of using legal channels for their remittance
transactions.
As a symbol of national pride, Babar Azam's endorsement of Bank
Alfalah and ACE Money Transfer's initiative to promote remittances through
official channels is expected to resonate strongly with overseas Pakistanis. By
choosing legitimate avenues for sending remittances, overseas Pakistanis not
only contribute to their homeland's economic well-being but also ensure that
their hard-earned money reaches their families safely and efficiently.
ACE Money Transfer is a global leader in the remittance
industry, enabling expatriates to send money from 28 countries, including
Europe, North America, and Australia, to 106 countries worldwide, with access
to 375,000 pay-out locations. This extensive network has garnered a diverse
customer base of over 1.4 million individuals who rely on ACE Money Transfer's
services to connect with their loved ones and fulfill their financial
obligations.
ACE Money Transfer anticipates facilitating over $1.25 billion
in remittances globally in 2023. For Pakistan, the projected remittance share
is set to surpass $800 million, reaffirming the platform's crucial role in
supporting the nation's economic growth through inflows from overseas.
One of the most notable aspects of ACE Money Transfer's
partnership with Bank Alfalah is its substantial market share in the remittance
sector. They proudly hold a remarkable 10% share of remittances and customers
for all remittances sent to Pakistan from Europe. Specifically, ACE Money
Transfer captures over 50% of the market share in Ireland, Norway, and the
Netherlands for all remittances destined for Pakistan. On the recipient side,
Bank Alfalah branches nationwide are well-equipped to efficiently process
remittance transactions.
Furthermore, Bank Alfalah and ACE Money Transfer have expanded
their offerings beyond remittances. Overseas Pakistanis can now conveniently
use ACE Money Transfer's mobile app to pay utility bills, enhancing
accessibility and convenience for their valued customers.
Source: Pro Pakistani