An agreement has been signed between UnionPay International (UPI) and Bank Alfalah to launch MoneyExpress in Pakistan.
MoneyExpress is powered by UnionPay and it is an easier way to send and receive money digitally anywhere in the country with the UnionPay card. Through MoneyExpress there will be no limitation of wire transfers and cash, as money will be transferred in a simple, secure and fast manner.
Also, through MoneyExpress the cardholders of Bank Alfalah and Unionpay abroad would be able to send money to Pakistan to any bank account or mobile wallet. It will allow the Pakistanis living abroad to remit money conveniently for their beneficiaries.
Group Head Retail Banking, Bank Alfalah Mehreen Ahmed and Vice President Business Development, UnionPay International Larry Wang signed the agreement between two companies in Shanghai.
Bascially the UnionPay International (UPI) is the subsidiary of China UnionPay. The focus of China UnionPay is to support and grow the global business of UnionPay. It has partnership with over 2000 institutions globally. In 174 nations, UnionPay International has enabled card acceptance.