Pakistan’s first and largest Islamic bank has partnered with HomeSend, a joint venture between MasterCard, eServGlobal and BICS to leverage on HomeSend’s extensive network. Under this agreement, Meezan Bank’s state-of-the-art Home Remittance service, ‘Meezan Easy Remit’ or MEX will start processing HomeSend’s worldwide remittances sent by millions of expatriates and Non Resident Pakistanis (NRPs) around…
Despite the low internet penetration in Pakistan online shopping has skyrocketed. Its e-commerce industry is expected to cross the US$600 million benchmark next year. According to PakStyle one reason internet was not popular in Pakistan earlier on was the very low use of credit cards in the country’s economy. However with the introduction of several…
Bank Alfalah to massively issue 1.5 million China UnionPay cards in Pakistan. Bank Alfalah is the largest merchant acquirer in Pakistan. Before this move, UnionPay International has partnered with the Bank in enabling all ATMs, POS Network and merchants subordinate to the Bank to accept UnionPay cards. These merchants include supermarkets, departmental stores, brand chain…
For Pakistan to harness the full potential of digital commerce, strong collaboration is required among mobile operators, financial and payments companies and governmental agencies. By 2020, 3G coverage is expected to reach 90% of the country’s population.
Monet, the largest mPOS (Mobile POS) service provider in Pakistan, and China’s UnionPay jointly announced the launch of a mPOS acquiring service in Pakistan. The UnionPay mPOS solution is to be launched at fast food restaurants, express companies and in hospitals and on taxies.
Pakistan’s Bank of Khyber (BOK) and JCB have inked an agreement for the issuance of JCB Debit Cards. The Bank of Khyber is a provincial government bank owned by Government of Khyber Pukhtunkhwa and based in Peshawar, Pakistan, presently with 119 branches all over the country.
Bank Alfalah and MasterCard recently signed an agreement to bring MasterCard Internet Gateway System (MIGS) to Pakistan. The system connects online merchants and websites with customers by accepting credit cards on the internet.
X-Cart, a global provider of hosted shopping cart services for eCommerce businesses has teamed with Coinzone, a leading Bitcoin payment solution provider dedicated to making it easy for European merchants and consumers to use and accept digital currencies.
The Pakistan payment card market is growing leaps and bounds, driven by government economic reforms, resulting in a 26% compound annual growth rate (CAGR). More than 29 million credit and debit cards were in force (CIF) at end-of-year (EOY) 2014.
Pakistan’s largest payment system by market share has entered into a strategic partnership to introduce JCB debit cards in Pakistan.
This initiative is a valuable addition to 1LINK’s portfolio of international payment programs which include Visa, MasterCard and China-based UnionPay International.
Inov8 has signed a deal to promote Emerging Markets Payments’ (EMP) third party card processing services in Pakistan and provide logistical and other in-country support. There are 100 million Pakistanis that have a phone but no access to financial services.
Habib Bank Limited (HBL) and MasterCard today announced a partnership which will pave the way for the introduction of MasterCard’s innovative payment tools in Pakistan that will provide a safe, simple and secure payment experience to cardholders. In a major boost for the growth of electronic payment solutions in Pakistan, HBL, under the new collaboration will issue over 7 million MasterCard payment cards in five years including debit cards that will feature the highly-secure EMV Chip and Pin technology, prepaid cards, premium debit and prepaid cards as well as companion cards issued by HBL Express, the branchless banking arm of HBL. HBL will also be issuing MasterCard payment solutions specifically for students and the youth.