Leatherback , a global banking service provider, has announced a partnership with MCB Bank , Pakistan’s largest commercial bank. The collaboration aims to facilitate easier Pakistani Rupee (PKR) payouts and remittances for users, fostering business and lifestyle opportunities in Pakistan and the wider South Asia region.

Through this partnership, users including businesses, international students, medical migrants, tourists, and others can send money to individuals and businesses in Pakistan seamlessly. The process involves signing in to the Leatherback app, accessing SendR, the company’s remittance solution, and following five simple steps to complete the transaction. According to data, Pakistan received approximately USD 150 billion in remittances between 2017 and 2022, ranking it sixth among top remittance-receiving countries in 2022, with USD 29.9 billion received that year.

Additionally, trade between Pakistan and Africa is estimated at USD 4.18 billion. With the recent launch of Indian Rupee remittances and payouts on the Leatherback platform, this partnership expands opportunities for Leatherback users across the South Asia region. Representatives of Leatherback stated that the partnership with MCB Bank aligns with their mission to facilitate global opportunities for customers by removing payment barriers.

The collaboration aims to provide effective cross-border payment solutions to bring people closer together and enable them to trade and enjoy more experiences. MCB Bank representatives emphasized that the partnership aims to enhance the scale of their digital remittance services, providing customers with seamless and efficient cross-border transactions. This reflects the bank's commitment to innovation and delivering value to customers.

The ability to move money seamlessly across borders is crucial for accessing lifestyle and business opportunities. Leatherback, with a focus on migrants and global citizens, aims to provide robust, cross-border financial services. This includes a seamless digital identity verification process, low transaction fees, competitive FX rates in real-time, and a secure onboarding process.

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