Digital Merchant Onboarding FAQs
Bank Alfalah’s Digital Merchant Onboarding platform is a streamlined solution designed to simplify the process of accessing payment acceptance solutions for businesses. It enables merchants to apply for POS terminals, payment gateway etc. seamlessly through a digital interface.
The platform is tailored for sole proprietorships and small to medium enterprises (SMEs), seeking to accept payments through various channels such as POS terminals, payment gateways, and more.
The platform offers numerous benefits, including:
- Simplified onboarding process without the need for extensive paperwork.
- Instant access to Asaan Merchant Account and payment solutions upon approval.
- Transparent terms and clear transaction limits for informed decision-making.
- Dedicated support throughout the onboarding journey.
Application Process:
To apply, simply visit Bank Alfalah’s Digital Merchant Onboarding page (*insert rapid page link*) and follow these steps:
- Initiate your application.
- Submit required documents securely.
- Provide accurate personal and business information.
- Select the payment solutions you require.
- Review and submit your application.
The required documents include:
- Electronic copy of front and back side of CNIC.
- Live picture or digital photo.
- Business place photograph.
Approval times may vary depending on the completeness of your application and verification processes. However, our system aims to provide swift approvals.
Initially, the transactional limit for the digitally onboarded merchant is set at PKR 50,000 per month. This limit is granted instantly upon approval of the application. However, upon biometric verification by the merchant, this limit can be increased to Rs. 500,000 per month.
The biometric verification process involves the merchant providing their biometric data, such as fingerprints, at the nearest Bank Alfalah’s branch. Once the verification is successfully completed, the merchant’s transactional limit will automatically be increased to Rs. 500,000 per month, allowing for higher transaction volumes and business growth opportunities.
Technical Support:
If you encounter any technical issues, please contact our dedicated support team 042-35847024 for assistance.
Account Activation:
Upon approval, you will receive notification through the SMS and via email. You will also be provided with the necessary account details and access credentials.
Yes, upon approval, you can start using the approved payment solutions immediately to accept payments from your customers. In case of a POS terminal, our teams will reach out to you to provide the terminal swiftly.
Typically, payments are settled in your merchant account the following day after the transaction. However, please note that if the transaction falls on a weekend or public holiday, there may be a slight delay. Additionally, for digitally onboarded merchants, it is essential to complete biometric verification to receive settlements. Until this verification is completed, payments will not be processed.
Security and Compliance:
Yes, we prioritize the security and confidentiality of your information. Our platform employs industry-standard security measures to protect your data.
Yes, Bank Alfalah adheres to all regulatory requirements and industry standards to ensure compliance and security for all transactions and interactions on our platform.
Additional Support:
For further assistance or inquiries, you can reach out to our dedicated support team through the contact channels provided on the platform. We are here to assist you throughout your journey, please contact our dedicated support team 042-35847024 for assistance.
