KARACHI: Meezan Bank has joined hands with 1LINK (Guarantee) Limited, the interbank payment network service provider in the country, to issue PayPak branded Debit Cards. “PayPak” is Pakistan’s first domestic payment scheme that aimed at providing an indigenous alternative to international payment schemes, says press release here on Tuesday.
Through efficient and cost effective payments services for every citizen of Pakistan, PayPak will not only improve the access to ATMs and point-of-sale terminals across the country but will complement the Government’s objective of greater financial inclusion in the country. Commenting on the occasion, Deputy CEO of Meezan Bank, Ariful Islam said that the launch of PayPak Payment Scheme is an excellent initiative and will 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 the country.
CEO of LINK (Guarantee) Limited Najeeb Agrawalla said that his company welcomed Meezan Bank’s initiative for the issuance of PayPak which is aimed at supporting the under-served and unbanked population of the country through efficient and cost effective payment solutions.
