Faysal Bank teamed with Mercantile Pakistan (Authorized Apple Distributor) to offer a Buy Now Pay Later (BNPL) service to its clients who use its payment cards at no profit.
This is the first time in Pakistan that buyers can use BNPL to purchase Apple products from authorised retailers. During the deployment phase, more than 100 authorised resellers will offer Apple products on 3, 6, 9, and 12 month payment plans.
Merchandise will also be accessible via Faysal Bank DigiMall, Faysal Bank’s online marketplace, and call centre PIP choices.
This relationship would provide simple payments for Faysal Bank clients through Mercantile Pakistan-approved channels, while simultaneously using the Faysal Bank platform’s capacity to empower its authorised businesses by accelerating payment processes.
In the past several years, BNPL has been an increasingly popular alternative among consumers, allowing them to acquire things through flexible and interest-free payments given as a secure and easy payment experience by merchants employing BNPL. This action will also facilitate the expansion of the Ecommerce ecosystem on a domestic level, fostering confidence in prepayment systems, product quality, and goods and services.
Mr. Aneeq Malik, Head of Consumer Finance & Payment Services at Faysal Bank, stated during the event, “This relationship exemplifies our mission to empower clients with various financing alternatives. This card-based offering will also allow businesses of all sizes to reignite their growth at this period of ongoing economic uncertainty.”
