Pakistan’s paramount banking institution, Askari Bank Limited (AKBL) and UnionPay International, one of the largest payment schemes in the world, signs a pact to distribute UnionPay QuikPass (NFC) and EMV Chip Cards to Pakistani AKBL customers.
The modern enterprise will assist the AKBL customers to avail the comfort of contactless payments “TAP AND GO,” while making sure the security of payments. The endorsed project may cover those many financial shortcomings faced by the customers in Pakistan, in the previous year.
Moreover, another agreement made under the pact will allow the AKBL customers to transfer and manage transactions at 41 million merchants and above 2 million ATMs along with 10 million online merchant sites will also be managed worldwide.
The agreement was acknowledged by the Group Head Operations, Askari Bank Limited Pakistan, Farrukh Iqbal Khan and Han Wang, General Manager, UnionPay International Middle East. In the meanwhile, Larry Wang, Chief Business Development Officer of UnionPay International and Asim Bashir-Country Head Branchless Banking & ADCs of AKBL were also present during the event held in Shangai, China.
As per reports, UnionPay has a great footprint in Pakistan, and it is already accepted at 70% of ATMs and 95% of POS terminal across Pakistan. Furthermore, 3.4 million UnionPay cards have been issued in Pakistan already.
We hope that the launch of UnionPay innovative products like QuickPass and EMV chip cards at Pakistan will further enhance service capabilities for the residents. While there are other ways Pakistanis can take advantage of money transfer facilities at local level like by opening mobile account on Easypaisa, Mobicash, TimePey, UPaisa, Mobile Paisa