MCB Bank enters into alliance with Alchemative for Internet Gateway payment services

Lahore: 30th July 2021
MCB Bank Limited, one of Pakistan’s leading Banks, has entered into an alliance with Alchemative, an innovative and customer-centric technology company, for mutually beneficial financial and digital services that will provide eCommcerce merchants a convenient one stop solution for all their eCommerce needs.
Under this agreement, MCB Bank and Alchemative will grant each other Preferred Partner status and will provide a host of financial and digital services to eCommerce merchants,

Press Release

including Internet Payment Gateway services, Tokenization services, Real Time Fraud Filtering, Application development, eCommerce website design and development services, website management and other technical support services all through one unified platform.
The agreement was signed between Mr. Salman Nisar Ahmedhahzad Ishaq, BusinessGroup Head, Consumer & Digital Banking Group, MCB Bank and Mr. Omer Farooq, CEO, Alchemative at MCB House, Lahore. Mr. Shahzad IshaqSalman Nisar Ahmed, Group Division Head, Digital Banking, MCB Bank, and Mr. Jasim Ahmed Waheed, Department Head Acceptance, Digital Banking, MCB Bank, and Mr. Umer Qasim, Product Manager eCommerce, Digital Banking, MCB Bank, Mr. Muhammad Tayyab, Director Technology, Alchemative and Mr. Ali Abbass, Director Ecommerce, Alchemative were also present at the ceremony, along with other senior executives from both organizations.
Speaking at the occasion, Mr. Shahzad Ishaq said “MCB Bank’s pioneering MCB eGate financial solution is a preferred Internet Payment Gateway of choice for thousands of eCommerce merchants nationwide. Through MCB eGate, merchants can accept digital payments online through their websites and mobile apps conveniently and comfortably from wherever they may be. With our partnership with Alchemative, we look forward to providing merchants further value addition through a host of additional services at exclusive discounted rates!”

Mr. Omer Farooq also added “”The very idea of digitalization and empowerment of society by utilizing technology is at the heart of Alchemative. MCB’s initiative of enabling merchants to set up the financial aspects of their businesses and digital payments with ease is the central idea behind this partnership. Alchemative can support the development of e-store and back-end operations while MCB enabling the merchant to setup banking and payment processes for the business, resulting in the creation of a one-stop solution. With the help of this partnership, we expect a smooth transition to the digitalized world for companies and startups.”


About MCB Bank:
MCB Bank, is one of the Largest & Most Innovative banks in Pakistan. The Bank operates a strong and vast network of Over 1,400 branches and over 1400 ATMs in Pakistan and 11 overseas branches. With a customer base of over 7 million, MCB leads the banking & financial services sector in Pakistan and customers across the globe have 24/7 access to MCB Bank via our innovative and accessible Digital Banking Services.