Alumni Achievement

Mr. Iqbal Mahmood is an IBA alumnus of MBA Class of 1999. He is an entrepreneur by nature. He is been successful in launching and setting up the following ventures in Fintech / Payment space in Pakistan , UAE and Singapore :

RFM Loyalty Pvt Ltd Pakistan: (2002-2006)
Received funding from Pakistan's first VC fund to develop a network of POS terminals across Pakistan in 2001. Iqbal was the founder CEO in 2002. Entered into a contract with UBL and hosted loyalty program of UBL (dip the chip) on South Asia's first chip cards launched by UBL. RFM owned a network of POS terminals processing visa, Mastercard, AmEx etc. cards across Pakistan - Till 2006 they had 100+ employees across Pakistan with 3 offices. Sold RFM Loyalty Co LLC to a Kuwait based private equity fund earning a 40% IRR for the VC fund.

https://fp.brecorder.com/2006/06/20060622441936/

The transaction is considered to be Pakistan's first acquisition of a local VC funded company by a foreign private equity fund.

RFM Loyalty Co LLC UAE: (2007- present)
(www.rfmloyaltyco.ae)
RFM UAE is a payment processor and owns / operates a network of 25,000+ POS terminals deployed at 15,000+ retails across UAE . RFM processes AED 15 Billion per year in cards transactions across all 7 Emirates of UAE with over 100m transactions per year on the network in 2025. Iqbal is the founder and CEO of the company . The company has offices in Dubai , Abu Dhabi and Sharjah and employs 130+ professionals from multiple countries at RFM .

Integrated loyalty solutions pte ltd Singapore :(2018-present)
(www.ils-pte.com)
formed Integrated loyalty solutions in Singapore - entered into a contract with Global Payments Inc to deploy and process POS devices - currently have 400+ merchants and growing in Singapore.

Integrated Payments Pakistan : (2022- present)
www.ips-pakistan.com
Formed the company in Pakistan in 2022 – partner of Meezan bank with current offices in Karachi , Lahore and Islamabad employing 60+ staff . The company is on growth trajectory and is on-course to provide payment processing services to over 3,000+ merchant locations across the country .