Alfa BNPL by Bank Alfalah is a Shariah Compliant instalment facility that charges 0% profit from customers and enables customers having other bank credit cards to purchase products from AlfaMall or any other Bank Alfalah registered online or in-store merchant.
All customers holding other bank credit cards (issued by any bank in Pakistan) can avail the Alfa BNPL ‘Buy Now Pay Later’ facility (subject to Bank Alfalah internal assessment), except for Bank Alfalah issued cards.
The contract is based on Qard (قرض) under which bank will make payment to the merchant, equivalent to the purchase price (the Qard amount) on behalf of the customer. The first amount will be deducted upfront. The bank is not entitled to take any additional amount on the purchase price and thus, the customer is liable to only pay back his Qard/principal to the bank over the tenor.
Alfa BNPL allows customer to purchase products and defer the payment by paying in equal monthly installment for up to 6 months’. In this transaction, the first payment is taken upfront. Customers can avail this facility by linking eligible credit cards from any bank in Pakistan to be used as the mode of payment. The bank first assesses the customer and provides instant decisioning on eligibility.
Once the customer is on-boarded, they are assigned a limit which they can use by going to Alfamall, eligible online and in-store merchants. The transaction is based on a tri-party execution where the bank acts as a broker for the merchant, the merchant becomes the seller by selling the products and the customer becomes the debtor of the bank. The Bank pays the purchase amount to the merchant on behalf of the customer.
No, this option is only valid for credit cards issued by other banks in Pakistan.
Minimum limit of PKR 25,000 and maximum limit of PKR 750,000 can be assigned through Alfa BNPL.
Alfa BNPL limit assigned is based on credit check and income assessment as per Bank Alfalah’s policy.
Alfa BNPL Limit once assigned is valid for 3 years or credit card expiry date (whichever comes first). However, the bank reserves the right to revise the initial limit assigned.
Below steps will be followed to avail Alfa BNPL:
No. It is necessary to activate/renew your credit card to avail Alfa BNPL facility.
Yes, customers can purchase multiple products in one go within the Alfa BNPL limit assigned.
The assigned limit gets consumed once the product is purchased. However, the limit gets updated on repayment of respective instalments. For example, if the assigned limit was Rs. 100,000 and an order of Rs. 40,000 was purchased on 4 instalments then Rs. 10,000 instalment amount would be due for 3 months (1st installment will be deducted upfront) and remaining Alfa BNPL limit will be Rs. 60,000. When instalment of Rs. 10,000 will be paid then the Alfa BNPL limit will be updated to Rs. 70,000 from Rs. 60,000 and so on.
The limit can be checked through Alfa app or through the Alfa BNPL journey.
You can view the repayment schedule and installments status by logging on Alfa app, clicking on ‘Manage Other Bank Cards’ > Alfa Buy Now Pay Later > Repayment Schedule. To download Alfa App: //onelink.to/u9b8fx.
Repayment will be done in equal monthly installments and will be automatically deducted from your provided credit card. The amount deducted will be visible in your respective bank’s monthly credit card statements.
4, 6 and 10 months repayment tenure is available
Tenure will remain the same as per the original repayment schedule.
First time purchase: If you are purchasing an order on Alfa BNPL for the first time and not being able to get through successfully, you will get a relevant error message indicating the issue for your information. For further details, you can reach out to us at 021 111 225 111.
Returning purchase: If you are making a returning purchase on Alfa BNPL, you must have sufficient remaining limit to purchase the order. If the transaction is declined for any other reason, you will get a relevant error message indicating the issue for your information. For further details, you can reach out to us at 021 111 225 111.
There are no charges/processing fee.
No, there are no hidden costs involved. All charges are clearly mentioned in the Schedule of Bank Charges available at all Bank Alfalah branches. You can also visit www.bankalfalah.com for the Schedule of Bank Charges
Order cancelation will be based on Merchant policy. If you have shopped from AlfaMall then ‘click on‘ for further details. In case of any other online merchant, please refer to their cancelation policy mentioned on their website. AlfaMall only allows Order cancellation of product/order within 24 hours of order placement time.
Refunds will be processed within 15 working days based on confirmation from Merchant. Reversal of funds will only process once received from the merchant.
Refund will be depending on two scenarios mentioned below:
If you have returned an order in its entirety and the full amount of the order is refunded, any upcoming payments will be cancelled and any payments you have already made will be refunded back to your card.
The bank will continue attempting to collect the payment from your respective credit card from the due date. In case of late payment, Charity due to late payment as per your undertaking may apply as per the prevailing Schedule of Charges. The charity so collected will be further given to charitable organizations as per Bank’s Policy.
Please note, all repayment information is submitted to ECIB in case of late payment as per regulatory requirements.
Yes, early payments can be done by logging on Alfa > clicking on ‘Manage Other Bank Cards’ > Alfa Buy Now Pay Later > Repayment Schedule > Select order and repay remaining instalments.
Yes, you can deactivate existing credit card and update new card information on Alfa app to ensure that payment is deducted on time. To update your card information login on Alfa > Manage Other Bank Cards > My Other Bank Cards or go to ‘Alfa BNPL Profile’ and update your credit card.
Please note that once new card information is updated, it will become your default card for all future payment deductions on all existing orders. Customers are advised to link cards which have sufficient credit limit available.
To collect No Objection Certificate (NOC), please clear complete outstanding dues of Alfa Buy Now Pay Later. Go to Alfa App > Manage Other Bank Cards > Alfa Buy Now Pay Later > select generate e-NOC.
e-NOC will only be enabled once outstanding amounts are cleared by customer.
Once your payment is deducted from your card, you will receive SMS confirmation from BAFL registered number as well as your credit card linked number (as per respective Bank’s policy). In case you haven’t received any confirmation, user can review payment status on Alfa App or reach the Call Center team 24/7 via call at 111-225-111 or email a query/complaint at email@example.com
Please note that once new card information is updated, it will become your default card against all orders for all future payment deductions.
To update your card information: login on Alfa > Manage Other Bank Cards > My Other Bank Cards or go to ‘Alfa Buy Now Pay Later Profile’ and update your credit card information against your order(s).
Return policy of respective merchant will apply. If order is purchased from AlfaMall then please click on to view the details. In case if order is purchased from any other Bank Alfalah registered online merchant then please refer to the details mentioned on the Merchant website. Returns are only catered in the case if the product is damaged/faulty. Any other reason is not acceptable.
For more information and queries, please contact the Bank Alfalah helpline at 021 111 225 111.