Mashreq Pakistan, the Pakistani subsidiary of a leading MENA region financial institution, has announced a groundbreaking partnership with 1LINK, Pakistan’s premier switch and payment services provider. This collaboration marks a significant milestone for Mashreq Pakistan, making it the first digital bank to join 1LINK’s network.
The partnership is geared towards revolutionizing the digital banking experience for Mashreq’s Pakistani customers. Through this collaboration, customers will benefit from a wider array of financial services, enhancing their banking convenience. They will gain access to over 18,000 ATMs for cash withdrawals, enabling easier access to their funds. Additionally, near real-time funds transfers will be possible to all member banks within the 1LINK network, encompassing over 40 institutions. This will significantly improve the speed and efficiency of money movement.
Furthermore, the partnership unlocks the convenient 1BILL service for Mashreq customers. This service allows for easy bill payments to over 2,500 billing entities, including educational institutions, utility providers, and government collections. This eliminates the need for customers to manage multiple bill payments through various channels, streamlining the process. Finally, Mashreq will now be able to issue PayPak debit cards, further expanding its range of financial products and services.
Commenting on the partnership, Muhammad Hamayun Sajjad, Chief Executive Officer, Mashreq Pakistan, emphasized the bank’s commitment to exceptional customer service. He stated that by leveraging 1LINK’s extensive network, Mashreq Pakistan can offer unparalleled digital banking solutions with cutting-edge technology and seamless experiences. Ultimately, the collaboration aims to empower Pakistani customers through financial accessibility and innovation.
