Pakistan and Mastercard have discussed ways to strengthen cooperation in digital payments, financial inclusion and cybersecurity, in line with the country’s ongoing push towards a cashless economy. The discussion took place during a meeting between Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and a Mastercard delegation led by Mark Elliott, Division President for East Arabia, as stated in a press release issued after the engagement. The delegation also included Arslan Khan, Country Manager for Pakistan and Afghanistan, and Jibran Jamshad, Director Public Sector for Pakistan and Afghanistan.
Speaking during the meeting, Finance Minister Aurangzeb said the government remains committed to expanding digital payments, widening access to financial services and promoting greater efficiency and transparency across the economy. He stressed that cybersecurity and fraud prevention must remain central to the effort of building a secure and resilient digital financial ecosystem. Senator Aurangzeb also appreciated the longstanding engagement of Mastercard with the financial sector of the country, as well as its continued interest in supporting digital transformation.
The finance minister underlined the importance of the cashless economy initiative of the Prime Minister and the role that digital financial solutions can play in supporting agriculture, small and medium enterprises and other underserved segments of society. He added that expanding the reach of digital financial services would be essential for achieving financial inclusion on a larger scale. In his view, bringing more people and businesses into formal digital channels would not only improve access to finance but also contribute to a more transparent and efficient economic structure.
According to the press release, the meeting also covered the improvement of cross border remittances, the strengthening of digital payment infrastructure and the enhancement of cybersecurity. Mark Elliott pointed to opportunities for further collaboration in digital payment acceptance, financial inclusion, remittances and cybersecurity. Mastercard reaffirmed its long term commitment to Pakistan and expressed its interest in using its global expertise and technology to support the digital transformation of the country.
The finance minister welcomed the continued engagement and investment of Mastercard in Pakistan, and he reiterated the commitment of the government to facilitating innovation and strengthening cooperation between the public and private sectors. Both sides expressed their resolve to maintain close engagement and to explore practical avenues of cooperation in support of the digital economy of Pakistan. The meeting, as described in the release, reflects the emphasis that policymakers and global payment technology providers are placing on secure, inclusive and efficient digital financial services as the country moves further away from cash based transactions.
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