Faysal Bank cooperates with Mercantile Pakistan to provide BNPL facility

Faysal Bank partnered with Mercantile Pakistan (Authorized Apple Distributor) to provide a Buy Now Pay Later (BNPL) facility at a zero percent win rate to its customers using their payment cards.

This is the first time in Pakistan that customers can use the BNPL facility to purchase official Apple products from authorized retail outlets. During the rollout phase, more than 100 registered merchants will begin offering official Apple products with simple term plans of 3, 6, 9 and 12 months.

Trading products will also be available on Faysal Bank DigiMall, Faysal Bank’s online marketplace and via call center PIP options.

This partnership enables convenient payments for Faysal Bank customers through Mercantile Pakistan authorized channels, while at the same time leveraging the capacity of the Faysal Bank platform to enable its authorized businesses to pass faster payment cycles.

In recent years, BNPL has become an incredibly popular option among consumers, enabling customers to obtain goods through flexible and interest-free payments offered in the form of a secure and seamless payment experience provided by merchants using BNPL. This move will also enable the growth of the e-commerce ecosystem at the domestic level, enabling confidence in prepayment systems and quality, and goods and services.

Speaking at the occasion, Mr. Aneeq Malik, “Head of Consumer Finance & Payment Services, Faysal Bank, said: “This partnership is a testament to our vision to provide customers with flexible financing options. This map-based product will also enable the revitalization of the growth of the myriad of companies of various sizes during this period of continued economic uncertainty.”

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