Raseen Technologies announced an agreement with Bank Alfalah Limited, envisioned to promote and facilitate the growth of electronic & mobile commerce in Pakistan. This brings bundle of socio-economic benefits to our customers like time and cost savings, convenience, security, flexibility and world-wide recognition of being a hi-tech society.
Under the agreement, Raseen Technologies is offering two of its flagship and fully managed products to Bank Alfalah Limited.
The first one is Raseen Payment Gateway which will enable Bank Alfalah Limited merchants to accept credit card payments at their websites. As a result of this deal, for the first in the history of Pakistan, the 3DSecure based chargeback protection for merchants has been made available. Merchants can now sell their products and services with a peace of mind. Consumers can also request their banks for 3DSecure PIN to protect their cards from fraudulent use.
The second product offered by Raseen is Wallet Management System that will enable Bank Alfalah Limited to offer mobile payments and branchless banking services to everyone who has a valid CNIC issued by NADRA and a valid mobile phone connection from any operator. Money can be sent and received with a touch of a button. Payment would also be possible at normal shops using the normal mobile phones. The service is in-line with regulations from State Bank of Pakistan in this regard.