18 January 2024

Mastercard Extends Partnership with UBL to Drive Innovation in Pakistan’s Payments Ecosystem

Mastercard and UBL have renewed their strategic business partnership focused on the issuance of debit cards in Pakistan. The multi-year collaboration will see the partners tap into opportunities to boost financial inclusion, meet evolving consumer expectations and showcase UBL as a key player in the country’s competitive digital payments landscape.

UBL’s customers will enjoy greater convenience in their Mastercard usage with attractive offers, innovative features and seamless services. The extended partnership will also cover digital payment solutions, notably facilitating cross-border and ecommerce payments by debit cards.

Mastercard will further offer access to its extensive portfolio of leading digital products and solutions, including debit and virtual cards, as well as cyber and intelligence resources. UBL will work with Mastercard Advisors, which leverages the company’s unmatched payment and technology expertise to deliver top-of-the-line consulting services, on a wide range of initiatives aimed at its growth journey.

“Building on its strong legacy in Pakistan that spans over 20years, Mastercard works to accelerate the nation’s digital transformation and add value to its economy. UBL is one of our most prominent and long-standing partners in the country. Driven by our shared commitment to innovation, the extended collaboration will see us develop advanced digital solutions together. We are excited about the opportunities it will create for our businesses to address the needs of unbanked and underbanked segments of society,” said J.K. Khalil, Cluster General Manager, MENA East, Mastercard.

“Debit card offerings, especially those supported by a global payment network, such as Mastercard, contribute to a seamless and secure customer experience. 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,” said Muhammad Anas, Head of Consumer Banking, UBL.