Mastercard and UBL have reinforced their strategic business partnership, focusing on the issuance of debit cards in Pakistan. This multi-year collaboration aims to leverage opportunities for enhancing financial inclusion, meeting evolving consumer expectations, and positioning UBL as a key player in the competitive digital payments landscape of the country.
UBL’s customers are set to experience enhanced convenience in their Mastercard usage, with enticing offers, innovative features, and seamless services. The extended partnership will encompass digital payment solutions, particularly facilitating cross-border and ecommerce payments through debit cards.
Mastercard will provide access to its extensive portfolio of leading digital products and solutions, including debit and virtual cards, along with cyber and intelligence resources. UBL, in collaboration with Mastercard Advisors, leveraging the company’s unparalleled payment and technology expertise, will undertake various initiatives to fuel its growth journey.
J.K. Khalil, Cluster General Manager, MENA East, Mastercard, expressed, “Mastercard works with market leaders to support Pakistan’s dynamic digital transformation journey and fuel its economy. We are delighted to extend our longstanding partnership with UBL as we usher in a new era of collaboration and innovation. Together, Mastercard and UBL will create new opportunities for Pakistan and its people as we partner to create an inclusive digital economy that works for everyone.”
Muhammad Anas, Head of Consumer Banking, UBL, highlighted, “The renewal of our collaboration agreement testifies to the stability and reliability of our banking services and reaffirms our trust in Mastercard’s capabilities as a global technology leader in the payments industry. The partnership will enable us to jointly invest in making payments faster and smoother to benefit all our card customers while helping our bank maintain relevance in Pakistan’s dynamic market.”
UBL, recognized as one of Pakistan’s most progressive and innovative banks, holds a growing portfolio of 1.8 million debit cards with Mastercard. In 2010, the partners launched the country’s first premium debit card under the bank’s Signature proposition, followed by the first prepaid card seven years later.
