MasterCard, Bank of Punjab extend strategic partnership to boost Pakistan’s digital economy
KARACHI – MasterCard and Bank of Punjab (BOP) reaffirmed and expanded their long-standing strategic partnership to support Pakistan’s transition to a cashless, digitally connected and financially inclusive economy.
The new collaboration was discussed during a high-level meeting held in Karachi, where senior leadership from both organizations explored new opportunities to strengthen digital payments, financial inclusion and payment infrastructure across the country.
MasterCard’s delegation was led by Ms. Elish Campbell, Executive Vice President, Public Sector and included Mr. Arsalan Khan, Country Manager – Pakistan and Mr. Gibran Jamshad, Director – Business Development. The BOP delegation was led by Mr. Zafar Masood, President & CEO, Mr. Naufal Dawood, Chief Digital Officer, Mr. Raza Bashir, Chief of Staff & Strategy, Mr. Qasim Nadeem, Group Head – Treasury & Financial Institutions, and Mr. Roy Usman, Head of Cards.
Building on their successful collaboration, the two organizations discussed enhancing joint efforts to support Pakistan’s digital economy through financial inclusion, transit payments, digital governance sharing and cross-border remittances. The discussion focused on increasing the acceptance and use of secure digital payment solutions through modern card-based solutions, e-commerce, contactless payments and next-generation payment technologies among consumers, merchants, businesses and government agencies.
The meeting also reviewed progress under the Punjab Government’s flagship financial inclusion and development initiatives, where MasterCard-enabled debit and credit cards issued by the BOP have played an important role in increasing access to formal financial services. These include CM Punjab Easy Business Card, CM Punjab Kisan Card and CM Punjab Livestock Card which have provided safe, transparent and scalable financing to traders, farmers and livestock owners across Punjab.
The BOP also highlighted the successful implementation of the Ramadan Nighaban programme, which disbursed financial assistance through MasterCard-enabled debit cards. The initiative demonstrated how digital payment mechanisms can improve transparency, operational efficiency and overall beneficiary experience while reducing reliance on cash-based distribution systems.
Recognizing the growing demand for smart and accessible mobility solutions, MasterCard and BOP are also collaborating on the digitization of Punjab’s largest transit program covering 13 cities. The move will enable passengers to pay contactless fares using bank-issued cards, supporting Pakistan’s broader vision of developing a modern, integrated and cashless public transport system.
In addition, the two organizations have explored opportunities to expand BOP’s international payment capabilities as well as strengthen cooperation in cross-border payments and remittances by leveraging MasterCard’s global payment network. The collaboration aims to improve convenience, accessibility and efficiency for overseas Pakistanis and their families.
Speaking on the occasion, Mr. Zafar Masood, President and CEO, Bank of Punjab said that the partnership with MasterCard has already proven that digital payments can play a role in advancing financial inclusion, improving government service delivery and supporting economic growth.
“Our collaboration with MasterCard has already proven that digital payments can contribute to financial inclusion, government service delivery and economic development. Together, we have enabled Punjab’s largest digital financing and social support initiatives. As we look ahead, we see significant opportunities to expand our collaboration in building a cashless economy, strengthening payments systems and modernizing systems. Delivering innovative solutions that create lasting value for citizens, businesses and governments.” are,” he said.
Ms. Elish Campbell, Executive Vice President, Public Sector at MasterCard, said Pakistan is laying a strong foundation for the future of digital payments, and MasterCard is committed to supporting the country’s digital transformation journey.
“As Pakistan paves the way for a future of payments with clarity, certainty and institutional strength, MasterCard is proud to collaborate with BOP to help drive the country’s digital transformation efforts. By combining our global expertise and secure payment technologies with strong public sector partnerships, we can contribute to creating a prosperous and prosperous digital economy,” he said.
Mastercard currently powers economies and empowers people in more than 200 countries and territories around the world. Through its technology, payment networks, innovations and partnerships, the company supports secure, convenient, smart and accessible digital payment solutions, helping individuals, businesses and governments build resilient and inclusive economies.
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The post MasterCard, Bank of Punjab Expand Strategic Partnership to Promote Pakistan’s Digital Economy appeared first on Daily Pakistan English News.
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