Staff Reporter Karachi
NS Cashpoint recently entered into a partnership with Bank Alfalah, one of the largest private banks in Pakistan, to better serve the Pakistan remittance corridor.
The association with Bank Alfalah will allow both the entities to mutually benefit from each other’s brand value and service offerings in the APAC region, while harnessing the larger technological advancements of LuLu Financial Holdings, the parent company of NS Cashpoint.
This partnership will enable affordable and faster cross-border transfers, thus driving greater value proposition for Pakistani expats in Malaysia.
LuLu Financial Holdings has a stake of 70.83% in Malaysia’s NS Cashpoint, with NS Cashpoint being one of the leading Money Services providers in Malaysia offering cross-border remittances, currency exchange and banknotes services.
Under this collaboration, Pakistani expats residing in Malaysia will be able to send remittances back home through the NS Cashpoint channel.
Malaysia is home to a large number of Pakistani expats working blue- and white-collar jobs in the country, contributing significan to Malaysia’s economy.
This would encourage expats to use more legal channels for remittances, and provide them with a hassle-free transaction process for both senders and receivers.
The partnership will also improve the speed of transfer, reliability, and cost of transfers from Malaysia to Pakistan.
Through this partnership, NS Cashpoint customers will get the benefit of sending remittances to Pakistan with ease and on a real-time basis through Bank Alfalah’s swift service, resulting in an increase in the overall volume of the transactions as well.