Master­card opens of­fice in Pak­istan

Kuwait Times - - BUSINESS -

In a move aimed at fur­ther strength­en­ing its foot­print across the wider Mid­dle East and Africa re­gion, Master­card, a lead­ing tech­nol­ogy com­pany in the global pay­ments in­dus­try, to­day for­mally com­menced its op­er­a­tions in Pak­istan, with the open­ing of a ded­i­cated Master­card of­fice in Karachi.

Build­ing on the com­pany’s grow­ing pres­ence in the mar­ket since the 1990s, Master­card Pak­istan Pri­vate Limited will pro­vide a wide range of in­dus­try-lead­ing pay­ments ser­vices, in­clud­ing debit, credit, pre­paid, cor­po­rate, Master­card Pay­ment Gate­way Ser­vices, Master­card Re­wards So­lu­tions and dig­i­tal pay­ment so­lu­tions.

Master­card’s re­cent achieve­ments in Pak­istan in­clude the global launch of Master­pass QR, the coun­try’s first in­ter­op­er­a­ble dig­i­tal pay­ment ser­vice that al­lows bank­ing con­sumers to use their mo­bile bank­ing app to pay for in-store, bill pay­ments (in­voices) and for de­liv­ery with one se­cure ac­count. The ser­vice is ex­pected to ben­e­fit a large num­ber of ex­ist­ing and po­ten­tial cus­tomers with a fast, se­cure and con­ve­nient pay­ment ex­pe­ri­ence on mo­bile bank­ing apps.

“Pak­istan has al­ways been a key strate­gic mar­ket for Master­card and in the last cou­ple of years, we have fur­ther sharp­ened our fo­cus in the mar­ket to tap into the coun­try’s tremen­dous growth po­ten­tial and ap­petite for in­no­va­tion in pay­ments tech­nol­ogy. We are proud of the strong busi­ness re­la­tion­ships we share with all the prom­i­nent part­ners across the coun­try, and look for­ward to col­lab­o­rat­ing and en­gag­ing with them on a deeper level to ad­vance the cause of fi­nan­cial in­clu­sion in Pak­istan and drive the coun­try’s shift from cash to a cash­less econ­omy,” said Khalid El­gibali, Di­vi­sion Pres­i­dent, Mid­dle East and North Africa, Master­card.

Master­card is also at the fore­front of driv­ing on­line pay­ments in Pak­istan, by pow­er­ing two of the key ac­quir­ing banks, in­clud­ing Bank Al­falah and MCB Bank. Re­cently, Master­card also in­tro­duced HomeSend, a re­mit­tance so­lu­tion with Meezan Bank, one of the key Is­lamic fi­nan­cial in­sti­tu­tions in the coun­try. En­abling card pay­ments for smaller and mi­cro mer­chants, Master­card launched the first Mo­bile Point-of-Sale (mPOS) ser­vice in the coun­try in col­lab­o­ra­tion with Habib Bank Limited in 2015.

Ded­i­cated to ex­pand­ing the reach of its in­dus­try-lead­ing of­fer­ings across Pak­istan, Master­card cur­rently has 17 key is­suers in the coun­try, cov­er­ing the en­tire spec­trum of pay­ment card is­suance from debit and credit, and cor­po­rate cards.

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