Hajra Naz
The digital payments scene in Pakistan has advanced with the introduction of a new physical and virtual debit card by Mastercard and UPaisa, a financial and digital app by U Microfinance Bank and Ufone 4G. Now, customers can shop online with over 7,500 businesses in Pakistan and abroad, anywhere Mastercard is accepted, in peace and safety.
There are over 18,000 ATMs and 120,000 POS machines across the country. UPaisa wallet users enjoy;
- Enhanced security
- Fast transactions
- Access to 100 million global locations with Mastercard.
Our partnership with UPaisa strengthens our shared objectives of assisting Pakistan’s growing transition to a digital economy. According to Muhammad Nana, Senior Vice President, of Digital Partnerships, EEMEA, Mastercard, “The launch of this new debit card will support the transformation of Pakistan’s payments landscape while enabling seamless, safe, and convenient consumer experiences, powered by advanced technology, in line with the goals of the country’s Vision 2025.”
Through their partnership with U Microfinance Bank, a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) and the company that issues the new card, Mastercard will be able to provide a range of new technologies and user-friendly experiences to businesses and consumers in 32 countries across the Middle East, Asia, and Africa.
Syed Atif Raza, Chief Marketing Officer of PTCL and Ufone 4G, said, “The UPaisa debit card with Mastercard shows our commitment to enhancing digital banking. We aim to improve our digital ecosystem to meet customers’ changing needs and boost financial inclusion for more Pakistanis, promoting their economic well-being.”
UPaisa, one of Pakistan’s largest mobile financial platforms, offers services like;
- Bill payments
- Money transfers
- Mobile top-ups
- ATM cardless withdrawals.
It provides affordable and convenient financial services, especially to underserved or unbanked individuals, helping them advance economically and socially.
