Bank Alfalah strikes deal with Lootlo.pk to issue “Go Lootlo Wallets”

KARACHI –January 02, 2017: Pakistan’s premier banking institution Bank Alfalah has entered into partnership with Lootlo.pk – a prominent e-commerce website – for issuance of Pakistan’s first ever discount debit card ‘Go Lootlo Wallet’.

The agreement was signed by Amaar Naveed Ikhlas of Bank Alfalah and FahadMehmood of Lootlo.pk here at a local hotel in the presence of high officials from both the organizations and other dignitaries. Under the agreement, Bank Alfalah will enable Lootlo.pk to offer real-time offline discounts through the ‘Go Lootlo’discount debit cards, a first-of-its-kind initiative in Pakistan.

Lootlo.pk is one of Pakistan’s oldest discount deals website providing discounted online shopping since July 2013. Lootlo.pk offers a wide range of discounted merchandise and services including restaurants, salons, hospitals, car services and products like clothing, footwear etc.

On ‘Go Lootlo’debit cards, customers can avail discounts at over 500 retailers with over 2,000 outlets all over Pakistan. With UnionPay International being the exclusive Payment Gateway Partner, ‘Go Lootlo’debit cards will be accepted all over Pakistan and internationally, includingover 30 special discounts available in Dubai alone.

Another great advantage of the ‘Go Lootlo Wallet’ is it offers free Personal Accident Insurance to all cardholders with no minimum deposit condition, a service for which conventional banks require customers to have a minimum deposit or balance maintenance conditions.

Moreover, the ‘Go Lootlo’ cardholders enjoy the additional benefits ofFree Personal Accident Insurance including Accidental Death of Rs. 200,000, Permanent Disability/Temporary Disability of Rs. 200,000 and Accidental Hospitalization benefits of Rs. 30,000.

Providing added ease and convenience to the customers, the cards can be topped-up at any of the Bank Alfalah branches or agents spread across the countryor ‘Go Lootlo’ branches oragents nationwide.

Commenting on the development,Amaar Naveed Ikhlas of Bank Alfalah said: “We are glad to partner up with Lootlo.pk which is a prominent e-commerce site, striving to promote e-commerce in the country. It is something closer to our hearts too as it can prove pivotal in increasing financial inclusion in the country besides promoting online retail. Bank Alfalah has rolled-out multiple initiatives to promote e-commerce in the country which we see as a ripe opportunity to strengthen Pakistan’s economic growth. Bank Alfalah and Lootlo.pk’s partnership will set higher precedent through innovative and value-added products and services for e-commerce customers.”

Sharing his thoughts on this, Fahad Mehmood of Lootlo.pk said: “We are excited to enter into this significant partnership with the country’s leading banking institution, Bank Alfalah for issuance of Go Lootlodebit cards. With Bank Alfalah’s weight behind us, I believe this partnership will go long way in ushering ease and access to our mutual customers besides inspiring customer loyalty and credibility towards financial inclusion and e-commerce in Pakistan.”

Bank Alfalah manages a leading-edge digital ecosystem of a host of digital products and services to promote digital technology in Pakistan. It lends its products and services to various banking and financial players to cater to the needs of Pakistani customers.

About Bank Alfalah:

Since its inception, Bank Alfalah has grown rapidly to become Pakistan’s fifth largest private bank, the largest issuer and acquirer of credit cards and one of the largest Islamic Banking businesses in the country. The Bank has a network of over 650 branches spanning more than 200 cities with presence in Afghanistan, Bangladesh and Bahrain in addition to a representative office in the UAE. The Bank serves more than 1 million corporate, retail, small business, agricultural, Islamic and asset financing customers.