Faysal Bank Limited (FBL) continues to introduce digitally enabled solutions for customers, the bank has recently partnered with Payoneer, a globally recognized digital payment platform empowering businesses around the world to make fast, secure and convenient cross border payments. The ceremony was attended by senior management of both organizations.
This agreement will improve FBL customers’ experience through instant fund withdrawal from the Payoneer account, along with a host of banking services. This first of its kind initiative, which is being led by FBL, will add stimulus to the already vibrant freelancer community along with the technology-based financial sector of Pakistan.
FBL Head Corporate and Investment Banking, Ali Waqar said:
We are delighted to join Payoneer and access the fast-growing network that connects its customers and partners. This partnership is also in line with the E-Commerce policy to facilitate freelancers and companies in receiving payments via home remittance channels.
“This announcement represents FBL commitment to adopt the latest innovative solutions and reflects our ability to transform FBL to digital bank with world-class services and solutions,”said Arif Siddiqui, Chief Digital Officer, FBL added.
Vice President, South East Asia and Pakistan, Payoneer, Miguel Warren said:
Pakistani online outsourcing individuals and companies have immense potential. Payoneer is their business partner, extending unmatched experience and support through our partner network, superior technology and innovative services. Partnering with FBL is a milestone of investment in the local business community, bringing them real-time, secure withdrawal.
Mohsin Muzaffer, Country Manager Pakistan, Payoneer added, “By joining Payoneer’s growing global network, financial institutions like FBL can process their customers’ payments into Pakistan instantly, reliably and cost-effectively, as well as expand their footprint into new markets – including those that are otherwise too difficult or expensive to reach.”
FBL aims to provide par excellence services to its clients. Payoneer already has over 4 million customers worldwide in 200+ countries and territories. Joining Payoneer enables FBL to process cross-border payments in real time with end-to-end tracking and certainty of settlement.
This is great. I hope other banks also do the same. Payoneer was already fast in moving money to banks but now it will be instant.
what is the difference between this agreement and agreement with Waseela Bank AKA JazzCash ?