HBL Microfinance Bank has become the first financial institution to issue the PayPak Credit Card following the signing of a tripartite agreement with 1LINK and Euronet Pakistan. The agreement marks the expansion of PayPak, Pakistan’s domestic payment scheme, from debit card services into the credit card segment. Card issuance is expected to begin shortly, enabling customers to access a locally developed credit payment solution while supporting the continued growth of Pakistan’s digital payments ecosystem. The initiative also reflects ongoing efforts by the participating organizations to strengthen locally managed payment infrastructure and broaden access to financial services through domestic payment technologies.
The agreement was signed by Mr. Amir Khan, President and Chief Executive Officer of HBL Microfinance Bank, Mr. Kashif Gaya, Chief Executive Officer of Euronet Pakistan, Mr. Najeeb Agrawalla, Chief Executive Officer of 1LINK, and Mr. Muhammad Bashir Khan, Chief Merchant, Schemes and Alliances at 1LINK. The signing ceremony was attended by senior leadership from all three organizations along with prominent representatives from Pakistan’s banking and payments industry. Their participation highlighted the collaborative effort behind the launch of the PayPak Credit Card and underscored the shared commitment of the organizations to expanding domestic payment capabilities through strategic partnerships. By combining the expertise of a financial institution, a payment switch operator and a payment technology provider, the initiative is designed to support the introduction of locally issued credit card services under the PayPak brand.
PayPak has steadily expanded its presence in Pakistan’s financial sector since its introduction as the country’s domestic payment scheme. The addition of credit card services represents another stage in its development, allowing participating financial institutions to offer locally processed credit card products alongside existing debit card services. With HBL Microfinance Bank becoming the first issuer, the initiative is expected to create opportunities for additional financial institutions to join the program over time. According to 1LINK, more issuers are being onboarded as part of the broader expansion strategy, helping increase the availability of domestic credit products while supporting payment transactions within Pakistan’s own financial infrastructure. The collaboration also demonstrates the growing role of partnerships between banks, payment technology providers and network operators in strengthening digital payment services across the country.
The PayPak Credit Card initiative is intended to contribute to a payment ecosystem developed in Pakistan for local users while offering greater access to domestic credit solutions. As issuance begins, customers of HBL Microfinance Bank are expected to benefit from a payment card backed by Pakistan’s national payment scheme, supported through the combined infrastructure of 1LINK and Euronet Pakistan. The collaboration also reflects continued investment in local payment innovation, enabling financial institutions to diversify their card offerings while supporting secure and efficient electronic transactions. By expanding beyond debit cards, PayPak is broadening its role within Pakistan’s payments landscape and providing banks with an additional domestic option for serving customers seeking credit-based payment services.
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