Pakistan’s Leading Energy Company, Byco Petroleum, Partners Bank Alfalah to Launch Digital Payments

Pakistan’s leading energy company, Byco Petroleum Pakistan Ltd, has teamed up with Bank Alfalah, one of the nation’s largest financial institutions, in order to introduce digital payments across Byco’s nationwide network of retail locations.

Bank Alfalah has supported the OneQR concept. The bank will now be assisting Byco Petroleum in accepting online payments via its Alfa App. Byco will also be able to accept digital payments via 25 other online banking apps being used in Pakistan.

Every Bank Alfalah client that uses the Alfa app will be able to drive to their nearest Byco retail center and get a liter of petrol for only Rs.100 (appr. $0.64). The app’s users can purchase up to 10 liters of petrol each day and 300 liters per month, at this reduced price.

Bank Alfalah Limited is a private bank that’s owned by the Abu Dhabi Group. It’s the 7th largest bank in Pakistan, with 662 local branches, 10 overseas branches with 7 based in Bangladesh and one each in Afghanistan, Bahrain, and the United Arab Emirates.

Established in 1997, Bank Alfalah was a public limited firm under the Companies Ordinance 1984. The institution’s banking operations began in November 1, 1997.

Fayaz Ahmad Khan, VP at Byco Petroleum, stated:

“Byco has always innovated in Pakistan’s oil and energy sector. I am very pleased to have signed the agreement to partner with Bank Alfalah to roll out Alfa digital payments across Byco’s network of 383 retail outlets, beginning with all 31 stations in Karachi.”

Yahya Khan, group head at Digital Banking Group, Bank Alfalah, noted:

“Partnering with Byco opens up new avenues for our customers to avail an experience of easy and convenient payments at retail pumps across Karachi and that too belonging to one of the leaders of the Pakistani Petroleum Industry.”

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