Payoneer (NASDAQ: PAYO), the commerce technology business enabling the greatest payments and growth for the new global economy, has partnered with HBL, Pakistan’s largest commercial bank.
The ceremony marked the beginning of the two companies’ official alliance, which promises to make international business payments easier for Pakistani businesses and people.
As businesses and consumers increasingly interact across borders, a demand has arisen for enterprises to effectively distribute cash to their worldwide customers while also providing a client experience that fits the needs of international businesses and consumers. This is where HBL and Payoneer come in to help their clients with real-time international money transactions.
Faisal N. Lalani, Head of International Banking at HBL, was in attendance, as was Abrar Ahmed Mir, Chief Innovation and Financial Inclusion Officer at HBL, as well as other top officials from both companies.
“It is projected that Pakistan’s IT exports will reach the $3.5 billion mark by the end of this year, and this is only the beginning,” said Mohsin Muzaffer, Payoneer’s Country Manager. Despite its potential, obtaining international business payments in Pakistan is difficult due to poor exchange rates and outdated services.
We hope that as a result of this agreement, companies and individuals will be able to receive their business payments via Payoneer into their HBL accounts in seconds.
Payoneer and HBL are here to help you, whether you’re a traditional exporter, an Amazon seller, or a firm or person exporting IT services.
HBL prides itself on empowering the Pakistani client by providing alternatives, thus speeding up the rate at which our economy digitalizes,” stated Faisal N. Lalani, Head of International Banking at HBL.
Our partnership with Payoneer will make it easier for Pakistanis to receive international payments, allowing for more goods and services to be exported and bringing in much-needed foreign cash via the banking system.
We think that this agreement would be a watershed moment in Pakistan’s digitization, unlocking prospects for both small enterprises and service exporters, in accordance with the country’s goals.
