MCB Bank enters into alliance with Alchemative

F.P. Report

LAHORE: MCB Bank Limited, one of Pakistan’s leading Banks, has entered into an alliance with Alchemative, an innovative and customer-centric technology company, for providing progressive financial and digital services to ecommerce companies. This strategic partnership is aimed at providing a one stop solution to eCommerce businesses for all of their online retail business needs.
Under this agreement, MCB Bank and Alchemative will grant each other Preferred Partner status and will provide a host of financial and digital services to eCommerce merchants, including Internet Payment Gateway services, Tokenization services, Real Time Fraud Filtering, Application development, eCommerce website design and development services, website management and other technical support services all through one unified platform.
The agreement was signed between Mr. Salman Nisar Ahmed, Business Head, Digital Banking, MCB Bank and Mr. Omer Farooq, CEO, Alchemative at MCB House, Lahore. Mr. Shahzad Ishaq, Group Head, Consumer & Digital Banking, MCB Bank, Mr. Jasim Ahmed Waheed, Department Head Acceptance, Digital Banking, MCB Bank, Mr. Umer Qasim, Product Manager eCommerce, Digital Banking, MCB Bank, Muhammad Tayyab, Director Technology, Alchemative and Mr. Ali Abbas, Director Ecommerce, Alchemative were also present at the ceremony.
Speaking at the occasion, Mr. Shahzad Ishaq said “MCB Bank’s pioneering MCB eGate financial solution is a preferred Internet Payment Gateway of choice for most of eCommerce merchants nationwide. Through MCB eGate, merchants can accept digital payments online through their websites and mobile apps conveniently and comfortably from wherever they may be. With our partnership with Alchemative, we look forward to providing merchants further value addition through a host of additional services at exclusive discounted rates!”
Mr. Omer Farooq also added “The very idea of digitalization and empowerment of society by utilizing technology is at the heart of Alchemative. MCB Bank’s initiative of enabling merchants to set up the financial aspects of their businesses and digital payments with ease is the central idea behind this partnership. Alchemative can support the development of e-store and back-end operations while MCB Bank enabling the merchant to setup banking and payment processes for the business, resulting in the creation of a one-stop solution. With the help of this partnership, we expect a smooth transition to the digitalized world for companies and startups.”
MCB Bank, is one of the Largest & Most Innovative banks in Pakistan. The Bank operates a strong and vast network of Over 1,400 branches and over 1400 ATMs in Pakistan and 11 overseas branches. With a customer base of over 7 million, MCB leads the banking & financial services sector in Pakistan and customers across the globe have 24/7 access to MCB Bank via our innovative and accessible Digital Banking Services.
Alchemative is the leading technology company; it excels in software development, e-commerce and cloud-based solutions. Alchemative has secured an ~80% market share of Pakistan’s e-commerce for the fashion industry in a short period of 5 years. Some milestones of Alchemative includes developing 26+ applications, 100+ e-stores, 12+ payment gateways, and facilitating 120+ integrations. Also, Alchemative is the only official Shopify Plus partner in Pakistan since 2018. Alchemative’s innovative and research-based approach enables it to deliver excellence and financial growth for its customers.