The Bank Alfalah Limited (BAFL) has signed an agreement with UnionPay International (UPI) to accept UnionPay cards in Pakistan. An announcement here yesterday said that this partnership was a major milestone for both companies and also marks a breakthrough in forging business links between financial institutions in China and Pakistan. It said that the Bank Alfalah was aiming to implement the acceptance of UnionPay Cards on POS terminals in Pakistan in early 2013 followed by acceptance of UnionPay Cards on ATMs thereafter. To date, the total number of the UnionPay Card issued had exceeded 3.4 billion. The UnionPay Card’s network had been extended to all the cities and rural areas in China as well as 135 countries and regions, it was further stated. Bank Alfalah’s President and CEO Atif Bajwa expressed pleasure to be entering into an alliance with UnionPay International to facilitate the acceptance of their cards in Pakistan. He was optimistic that “our widespread presence and footprint, with over 21,600 POS terminals countrywide, will go a long way in assisting UnionPay Card holders to conduct their transactions with enhanced efficiency, convenience and ease.”
