Bank Alfalah, Telemart sign MoU to drive business expansion

KARACHI: Bank Alfalah and  Telemart have signed a memorandum of understanding (MoU) for digitizing cash transactions, enabling instant delivery of products to Bank Alfalah customers on easy monthly installments, facilitating customers with easy returns and integrating venues of merchant business.

AlfaMall, Bank Alfalah’s digital e-commerce marketplace for online shopping announced the strategic partnership of its business with Telemart on Monday.

Muhammad Yahya Khan, Group Head Digital Banking at Bank Alfalah, said: “We are pleased to see the overwhelming response of our customers on AlfaMall. Our e-commerce marketplace aims to provide customers a complete shopping experience while allowing easy pre-payment options of account debit or payment through card.

“This further expansion in business will help digitize transactions at Telemart’s physical stores by enabling instant delivery of products to AlfaMall customers on easy installments,” he added.

Hamza Rauf Essa, Co-founder and director Telemart) said, “In today’s era, the name of the game is to experiment, evolve, innovate and learn. We are glad to have collaborated with Bank Alfalah, which shares our vision of using cutting-edge technology to facilitate the digitalization of the retail transactions at large.”

Telemart is one of the leading and Pakistan’s first Omnichannel e-commerce websites/applications. Telemart has 11 “physical stores” across 7 cities of Pakistan disrupting and digitizing the e-tailing industry.

Telemart and AlfaMall began their relationship in 2019 with Telemart selling and delivering its products to Bank Alfalah customers who order through AlfaMall. After the successful pilot, this partnership was extended in June 2020 to bring Telemart on board to sell their products in installments.

This move brought greater flexibility to customers for their purchases and expanded the business further with Telemart’s total volume crossing PKR 100 million on AlfaMall.