Small World signs Allied Bank to expand its presence in Pakistan

Small World signs Allied Bank to expand its presence in Pakistan
20.01.2017 09:30 am

Small World signs Allied Bank to expand its presence in Pakistan

Payments , Banking

 Small World Money Transfer, a leading provider of cross-border payment services in Europe and North America, is today announcing its partnership with Allied Bank Limited (ABL), one of the leading banks in Pakistan, through its Home Remittance Division.

This partnership is part of Small World’s strategy to expand its presence in Asia and enhance the services available for existing and new Small World customers. With ABL, Small World users will be able to transfer money to Pakistan in a fast and economic manner.

Through ABL’s Home Remittance Division, a reference partner will be added, allowing the bank to strengthen its remittance service, Allied Express. This means that funds sent to Pakistan from any of the 40 countries Small World operate in can be collected by the beneficiaries across the entire ABL network, integrating more than 1,150+ branches in Pakistan. The remittances may also be instantly credited to an ABL bank account or any other bank in Pakistan. 

According to World Bank data, remittances are extremely important for Pakistan. In 2014, remitances accounted for 6.9% of the country’s GDP, while the State Bank reported that remittances to Pakistan were around $19.3 billion in 2015.

Nick Day, CEO of Small World Financial Services says:

“We are excited to partner with Allied Bank and expand our services to clients looking to transfer money to Pakistan. It’s great to be able to offer this service to our clients, as well as give them the opportunity to take advantage of the security and guarantees that ABL can offer. 

“This partnership will enable our clients to be able to transfer money in an easier, quicker and cost-effective matter. By embarking on this partnership, we hope to demonstrate our commitment to our clients worldwide.

Expanding presence in Asia

Founded in the United Kingdom in 2006 as a result of a merger between different companies specialized in international transactions and money transfer, Small World FS is present across all five continents and has become one of the world’s leaders in digital money transfer. With a payout network of over 250,000 locations worldwide, Small World delivers a safe, fast, economical and totally transparent alternative to send money to any part of the world.

Pakistan is one of the countries in which Small World is placing a lot of focus in expanding its services, both through commercial alliances with key banking entities such as ABL, and through direct presence.

Related News

Mastercard, PFS and Starling Bank team up to offer a trusted alternative to cash to NHS volunteers

As National Volunteer Week gets underway, Royal Voluntary Service has identified two Mastercard issuers to provide trusted payment cards to NHS Volunteer Responders. These can... Read more »

Brazilians tend to increase spendings on ecommerce after the pandemic, EBANX study shows

A research launched by EBANX, on the impacts of the COVID-19 pandemic on the ecommerce market in Brazil and the post-pandemic perspectives, brings in the results an intention... Read more »

Mastercard: Contactless payments have become the “new normal” across the UK

As Mastercard reveal that 66 per cent of all transactions across the UK are now contactless, new research released today identifies consumer habits and viewpoints that mean... Read more »

South Africa’s Mama Money Expands Global Reach with Western Union

Western Union, a leader in cross-border, cross-currency money movement... Read more »

SatoshiPay Secures $550,000 investment from Stellar Development Foundation

The Stellar Development Foundation ("SDF") has made a strategic investment of $550,000 by way of convertible loan notes. This investment marks the third investment made by SDF... Read more »

Enfuce powers payments in MaaS Global’s revolutionary mobility app

Maas Global, the leading Mobility as a Service provider, has partnered with Enfuce – Finland’s largest fintech startup – to launch a card payment offering in Whim, MaaS Global’... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel