Payments

Ace Money Transfer partners with Pakistan bank for remittances

Photo: Adobe Stock

January 12, 2024

Ace Money Transfer has partnered with Habibmetro, a bank in Pakistan to promote remittance inflows to the country. Through this partnership, Habibmetro aims to cut into unregulated remittance methods, including the black market, according to a press release.

Ace and Habibmetro will offer the Rakhain Aapko Befikar campaign to offer Pakistanis fee-free money transfers to Pakistan from the U.K, Europe, Canada and Australia of more than $100. In addition, until Feb. 15, customers have a chance to win one of three Toyota Grande cars.

"We are delighted to partner with Habibmetro to launch this exciting campaign," Aftab Ashraf, chairman of Ace Group of Companies, said in the release. "Overseas Pakistanis play a vital role in Pakistan's economy, and we want to encourage them to use legal channels for sending money home. This campaign will not only reward them for doing so, but it will also help boost Pakistan's foreign exchange reserves and support economic growth."

The remittance market has grown massively over time and ATMs are playing a role in this space as well, as a story on ATM Marketplace discussed.