Bank Alfalah, a prominent commercial bank in Pakistan, has unveiled an exciting update in anticipation of the world’s largest shopping event, the 11.11 Sale Day. The bank’s innovative e-commerce platform, AlfaMall, is introducing an enhanced ‘Buy Now, Pay Later’ (BNPL) feature with 0% markup on authorized and genuine products from affiliated brands.
This enables shoppers to make desired purchases effortlessly, marking a significant step in facilitating a seamless shopping experience.
Launched in 2019, AlfaMall is Pakistan’s first banking-led eCommerce platform, boasting partnerships with over 150 brands and offering access to a diverse range of over 100,000 products. Embedded within the Alfa financial app, the platform covers everything from cutting-edge electronics and tech gadgets to travel services, automobiles, and trending fashion and beauty brands, addressing a wide array of household needs.
The BNPL option, featuring 0% markup on deferred payments, is not exclusive to Bank Alfalah credit cardholders but is also available to customers with credit cards from other banks. Customers can conveniently pay through various channels, including accounts, wallets, and orbit points.
In addition to the BNPL feature, AlfaMall is providing discounts of up to PKR 10,000 on all products and services, ensuring same-day delivery through reliable brand partners, with a user-friendly return and refund process.
Muhammad Yahya Khan, Group Head Digital Banking Group at Bank Alfalah, emphasized the significance of this initiative, stating, “We want to empower our customers to shop through Pakistan’s 1st BNPL eCommerce pre-payment marketplace without the burden of financial strain, enjoying monthly instalments of up to 12 months without hidden charges.”
AlfaMall also introduces an Alfa Islamic BNPL instalment facility, available for all banks’ credit cardholders without physical documentation. Unique features include instant approval, no processing fee, 0% on instalments, flexible repayment tenors, and quick processing, all while ensuring the existing credit card limit remains intact. This enhances customer convenience and streamlines the shopping experience.
For those preferring in-person shopping, AlfaMall offers a unique opportunity. On November 10th and 11th, 2023, shoppers can visit Lucky Mall, Karachi, to purchase products directly, participate in interactive games, and meet celebrities. This two-day event blends retail therapy, entertainment, and star-studded moments, making it a must-visit destination during the 11.11 shopping extravaganza.
