Meezan Bank has signed an agreement with UnionPay International to introduce debit cards carrying both the UnionPay International and PayPak payment networks. The agreement was signed in Shanghai by Dr. Syed Amir Ali, President and Chief Executive Officer of Meezan Bank, and Larry Wang, Deputy Chairman and CEO of UnionPay International. The announcement marks a new collaboration between the Pakistani Islamic bank and the international payment network, with the planned co-badged cards expected to expand the payment options available to Meezan Bank customers. The arrangement brings together PayPak, Pakistan’s domestic payment scheme, and UnionPay International, which operates a global payment network. However, the announcement does not provide a launch date, card specifications, eligibility requirements or details about the account categories for which the new cards will be available.
The co-badging model allows two payment networks to operate through a single payment card, potentially giving customers access to domestic and international payment acceptance through one banking product. PayPak is Pakistan’s domestic card scheme, while UnionPay International provides access to its international network. The combination is intended to address the need for locally supported payment infrastructure alongside broader acceptance beyond Pakistan. For Meezan Bank customers, the planned product could offer an additional option for card-based transactions, although the precise domestic and international usage arrangements will depend on the bank’s eventual product specifications. The bank has not yet disclosed whether the cards will support particular transaction categories, international e-commerce payments, ATM withdrawals or other features, and customers will need to wait for the official launch announcement for confirmation.
The agreement also comes amid wider efforts to expand PayPak’s role in Pakistan’s digital payments ecosystem through partnerships with international card networks. The State Bank of Pakistan has previously highlighted the potential of co-badged cards to combine domestic transaction processing with international payment capabilities. In a December 2025 statement, the central bank noted that such arrangements could allow domestic transactions to be settled within Pakistan while giving consumers access to international and e-commerce payments. This approach is relevant to the development of local payment infrastructure because it offers banks a way to provide wider card acceptance while supporting the use of a domestic payment scheme. PayPak has also established co-badging arrangements with other international networks, including UnionPay and Mastercard, as part of the expansion of its acceptance options.
For Meezan Bank, the agreement adds another development to its payment services portfolio and creates an opportunity to extend the functionality offered through its debit cards. The bank has not announced the expected number of cards, commercial terms or any changes to existing debit card products as a result of the agreement. Customers should therefore treat the announcement as a partnership agreement to introduce the co-badged cards rather than confirmation that the new product is already available. Further information on issuance, charges, supported transactions and international usage is expected through Meezan Bank’s official communication channels when the product details are finalised. The collaboration reflects the continued adoption of co-badging arrangements by Pakistani financial institutions as domestic and international payment networks work together to broaden card-based payment options.
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