KARACHI: In a landmark move set to reshape the digital payments landscape in Pakistan, Faysal Bank Limited (FBL) has entered into a strategic partnership with Mastercard, a global leader in payment technology, and 1LINK, Pakistan’s leading domestic payment switch.

The Memorandum of Understanding (MoU) was signed between Faysal Bank, Mastercard, and 1LINK to drive digital transformation and deliver cutting-edge payment solutions across Pakistan.

The signing ceremony took place at Faysal Bank’s Head Office in Karachi, with key representatives in attendance, including, Yousaf Hussain, President and CEO, FBL; Aneeq Malik, Group Head of Consumer Finance, FBL; J.K. Khalil, Executive Vice President and Divisional President, MasterCard; Arslan Khan, Country Manager, Pakistan, MasterCard; and Najeeb Agrawalla, CEO, 1LINK, among other senior executives.

This collaboration will introduce the innovative PayPak – Mastercard co-badged debit card, providing unparalleled convenience, security, and flexibility to consumers, allowing seamless transactions both within Pakistan and internationally.

Faysal Bank account holders will access both domestic and international payment systems, ensuring smooth and secure transactions whether at home or abroad.

Copyright Business Recorder, 2024