Mastercard the leading global technology company that provides the solution for online payments has formally opened its dedicated office in Karachi, Pakistan to commence its operations. The inauguration of its office in Karachi is a move by the company to strengthen its footprints in the wider African and Middle East region.
As a part of its latest achievement in Pakistan, it has launched the Mastercard QR, which is Pakistan’s first service of its kind to allow smooth conducting of digital transactions. Using this service customer can make In-store online payments, pay bills and make payments for delivery with one account only.
Aurangzeb Khan, Area Head of Pakistan and Afghanistan region for Mastercard highlighted the Pakistan as a lucrative market due to the availability of demand, potential to grow and a greater appetite for innovation among the public.
Talking on this occasion, Khan said, “Pakistan has always been a key strategic market for his group, 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,”
The company is offering its services to ease financial transaction by maintaining a market presence from 1990. In Pakistan, the company intends to provide payment services from its diverse portfolio that includes the debit card, credit card, prepaid, corporate transactions and specific services offerings such as Mastercard Reward Solutions, digital payment systems and Mastercard Payment Gateway Services.
Mastercard is also providing financial services in collaboration with different banks in Pakistan. Its Point of Sale, a joint venture with Habib Bank allows small merchants to make transactions easily, HomesSend a remittance solution with Meezan Bank and driving of online payments with Muslim Commercial Bank and Bank Alfalah are the major services that company is providing in collaboration with Pakistani financial institutions.
Mastercard aims at expanding the net of its services by targeting the ever growing financial market in Pakistan, for this It has 17 key issuers that are responsible for issuing debit, credit and corporate cards countrywide.