In collaboration with MasterCard, Bank Alfalah has launched two pivotal market-leading solutions – Tap on Phone and Simplify Commerce. The strategic conglomerate between two market giants will result in technology-driven solutions. Essentially, this will uplift various businesses across the market – primarily small and medium enterprises.
Tap on Phone and Simplify Commerce
Principally, Tap on Phone is ideal for small and medium enterprises largely because it is beneficial for them in multiple ways. It leverages the power of technology to boost financial inclusion across the business. MasterCard’s Tap on Phone is an advanced and economical application which enables businesses through their smart devices to embrace electronic acceptance.
One of the key features of this application is that it offers uninterrupted, smooth and flawless customer checkout experience. Through Tap on Phone, the businesses can transform smart devices into secure payment acceptance devices for mobile wallets, smartwatches and contactless cards. All these features come without any supplement equipment and there are no setup costs. Ultimately, it helps small and medium enterprises greatly.
On the other hand, the inaugural launch of Simplify Commerce will provide enterprises with a range of powerful payments and business management features. The first-ever launch of MasterCard’s Simplify Commerce will assist in streamlining backend processes. Furthermore, it will also empower merchants to put their primary focus on fundamental business functions. The move enrich businesses to grow globally in the space of digital market.
It is significant to mention that Simplify Commerce is extremely user-friendly. Merchants with little digital marketing experience can make the most of the application. Transactions through this application are secured and speedy.
Statement of the executives
While speaking about the partnership, Country Manager of MasterCard in Pakistan, Atyab Tahir said:
“By partnering with Bank Alfalah, Mastercard is making it possible for businesses to realize their full potential with two of its most innovative digital payment solutions for the first time in Pakistan – Mastercard Tap on Phone, and Simplify Commerce. The provision of smartphone-based acceptance solutions is a much-needed development in the pursuit of financial inclusion, particularly in Pakistan whose population of 220 million people is significantly underserved by digital point-of-sale solutions and platforms”
On the contrary, the Group Head of Retail Banking of Bank Alfalah, Mehreen Ahmed explained the importance of the agreement by stating:
“The integration of the Mastercard Tap on Phone and Simplify Commerce platform is a gamechanger for Bank Alfalah. SME customers and millions of consumers who will now gain access to a seamless, secure and intuitive checkout experience through their contactless cards and devices. By providing merchants in Pakistan with the ability to affordably turn their Android phones into secure payment acceptance devices, Bank Alfalah is making a significant contribution to SME growth and inclusion within Pakistan’s flourishing digital economy”
MasterCard has been supporting SMEs in Pakistan along with Bank Alfalah. Subsequently, this development is just another feather in their cap.