According to the recently released, The Nilson Report, a leading publication covering payment systems worldwide, Bank Alfalah has been ranked amongst the top merchant acquiring companies in the Middle East and Africa regions for the year 2012, gaining the no.11 spot this year by rising from no.12 in 2011. 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 is the highest ever that the industry has witnessed. The Bank recorded 15% growth in volume and 14% growth in transactions when compared to 2011 figures. Bank Alfalah’s market share in terms of volume grew to 46% in 2012, from 44% in 2011.
The Group Head of Bank Alfalah’s Consumer Finance, Khurram Hussain said, “This is a huge honor for the Bank and we are humbled at achieving a ranking amongst the leading merchant acquirers in the Middle East and Africa region. Bank Alfalah is currently the largest acquirer of plastics in the country – with our widespread network of POS terminals nation-wide, we hope to continue developing a payments ecosystem that creates transacting convenience for our customers and reach new heights of service quality, access and convenience.”
The Nilson Report is a leading publication covering payment systems worldwide for the last 42 years. It can be accessed at http://www.nilsonreport.com.