KARACHI: In an initiative to enhance financial penetration and broaden access to formal financial services in Pakistan, #HabibMetro Bank signed an agreement with 1Link (Guarantee), an interbank payment network service provider in the country, to issue PayPak Debit Cards.
PayPak is the first domestic payment scheme in Pakistan that is aimed at providing an indigenous, cost-effective alternative to international payment solutions.
PayPak is geared towards improving the access to ATMs and point-of-sale terminals across the country and complements the State Bank Of Pakistan’s objective of greater financial inclusion in the country.
Commenting on the occasion, Sirajuddin Aziz, President & CEO and Khadim Ali Nanji, Head of Operations, Habib Metropolitan Bank, stated “PayPak is an excellent local payments alternative that enhances the outreach of financial services in Pakistan. HabibMetro Bank is pleased to join hands with 1 Link and contribute towards shaping a more inclusive financial landscape that better supports sustainable economic growth in Pakistan.”
Najeeb Agrawalla, CEO of 1Link commented, “1Link welcomes HabibMetro Bank’s initiative of issuing PayPak Debit Cards. Together, we endeavour to serve the unbanked population of the country through efficacious payment solutions.”