YAP Pakistan, the first regional financial super app providing consumers and businesses with a one-stop shop of innovative financial products, has partnered with Bank Alfalah, one of Pakistan’s largest commercial banks, to offer customized digital financial products and services for small and medium Enterprises (SMEs) in the country. 

The collaboration paves the way to create a more financially inclusive ecosystem for customers and businesses by enabling users to access a comprehensive array of digital financial services, including a fully operational business bank account, payroll, reporting, analytics and expense management. YAP customers will also be able to access over-the-counter services at Bank Alfalah’s vast network of branches across Pakistan.


YAP Pakistan secured the In-Principle Approval from the State Bank of Pakistan for an Electronic Money Institute (EMI) license, which will equip users with a digital account and an app that will enable users to perform various financial tasks at the touch of a button. 

“SMEs have unique needs and are looking for a more seamless approach to banking and we are pleased to partner with Bank Alfalah to create a suite of products and services to support them,” said YAP Pakistan CEO Meharyab Niazi. “SMEs contribute to 40% of Pakistan’s GDP and 25% in overall exports, which emphasizes the demand for an easier way to manage finances when in the early stages of growing a business.”

Bank Alfalah has been on the mission to collaborate with various partners in a bid to increase the adoption of digital payments in the industry. The bank’s online acceptance business is clearly the market leader with more than 50% market share. Bank Alfalah’s Cash Management enables Corporate, Middle Market and SME clients to securely prepare their payment and transfer instructions to the bank in real-time. Bank Alfalah was also awarded the Best Transaction Banking Award in 2021.

“Bank Alfalah is committed to supporting Pakistan’s growing Fintech startup ecosystem.  YAP’s regional experience with SMEs promises to bring innovative payment solutions to this largely unserved market in the country.  We look forward to supporting YAP by providing them access to our financial products and jointly developing new ones.” said Bank Alfalah Retail Banking Group Head Ms. Mehreen Ahmed.