Meezan Bank has joined hands with 1LINK (Guarantee) Limited to introduce PayPak branded debit cards in Pakistan. Being the first and largest Islamic bank of the country, Meezan Bank has been continuously working to diversify its offerings.
PayPak is Pakistan’s first Domestic Payment Scheme launched by 1LINK, which aims to offer a local payment alternative to the citizens of Pakistan. The primary objective of the scheme is to offer cost-effective and efficient payment solution to the people.
PayPak will not only enhance the access to ATMs and point-of-sale terminals in Pakistan but will also help the government to achieve its financial inclusion objective.
It is pertinent to mention here that many banks including Bank Alfalah, Allied Bank and Askari Bank have already started issuing PayPak branded debit cards to their customers.
Ariful Islam, Deputy CEO of Meezan Bank said that “the launch of PayPak Payment Scheme is an excellent initiative and will Inshallah develop the payment industry in Pakistan. It will help in increasing the usage of plastic money as well as broaden access to financial services in Pakistan. Meezan Bank is glad to adopt the new payment scheme that will transfer benefits to every citizen of Pakistan.”
“We welcome Meezan Bank’s initiative for the issuance of PayPak which is aimed at supporting the underserved and unbanked population of the country through efficient and cost effective payment solutions,” CEO of 1LINK (Guarantee) Limited, Najeeb Agrawalla said.