Pakistan’s United Bank Limited (UBL) has launched the Masterpass QR digital payment service in partnership with Mastercard. As the country’s first interoperable digital payment service, Masterpass QR allows consumers to use their mobile banking app to pay for in-store, bill payments (invoices) and for delivery with one secure account. The service is expected to benefit a…
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.
China UnionPay this week held the Conference on Regional Cooperation in Eastern Europe and Central Asia. Senior managers of dozens of major institutions in the region participated in the conference, including heads of People’s Savings Bank of Kazakhstan, Kazakhstan Commercial Bank, Kazakhstan Central Bank and Russian Agricultural Bank.
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.
The number of Chinese outbound tourists in 2014 totaled 107 million, a year-on-year growth of 19.5%, making China the largest tourist exporting country in the world for three consecutive years. This bodes well for China UnionPay which is almost exclusively rules the payment card for these tourists.
Sampath Bank in Colombo has inked a deal with UnionPay to declare all the ATMs under the flag of the bank would accept UnionPay cards and the acceptance of UnionPay cards by all POS terminals owned by the bank will be realized gradually.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Amer Sajed, Interim Chief Executive Officer, Barclaycard.
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.
Juniper Research has revealed how Service Providers are benefiting from the boom in mobile money transfer services – with $2bn in revenues forecast for this year and $4bn annually 2018.