Key Takeaways
- HBL Microfinance Bank, 1LINK and Euronet sign agreement to introduce Pakistan’s first PayPak Credit Card.
- The partnership aims to provide microfinance customers with greater choice and flexibility.
- HBL Microfinance Bank will issue the PayPak Credit Cards, with 1LINK and Euronet providing the payment scheme and technology.
HBL Microfinance Bank, 1LINK (Pvt.) Limited and Euronet Pakistan have signed a landmark tripartite agreement to introduce Pakistan’s first PayPak Credit Card, marking a significant development in the country’s payments landscape.
The agreement was signed by Mr. Amir Khan, President & CEO, HBL Microfinance Bank; Mr. Najeeb Agrawalla, CEO, 1LINK; and Mr. Kashif Gaya, CEO, Euronet.
Under the partnership, HBL Microfinance Bank will issue the PayPak Credit Cards and lead the customer proposition, while 1LINK will provide the PayPak payment scheme, and Euronet will offer the card processing technology platform and implementation support.
HBL Microfinance Bank plans to introduce the PayPak Credit Card across four variants: Green, Standard, Pink and Edge, designed to provide customers with greater choice and flexibility in meeting their livelihood needs.
This initiative is part of HBL Microfinance Bank’s broader plans to introduce both conventional and Islamic PayPak Credit Card offerings, expanding access to innovative credit solutions for microfinance customers across Pakistan.
Mr. Amir Khan, President & CEO, HBL Microfinance Bank, stated, 'At HBL Microfinance Bank, we see access to finance as a way to help customers move forward with confidence. As part of our commitment to expanding access to responsible and innovative financial solutions, we are proud to introduce the microfinance sector’s first credit card offering in Pakistan.'
Mr. Najeeb Agrawalla, CEO of 1LINK, added, 'Today marks a landmark moment for Pakistan’s payments ecosystem with the signing of the agreement for the first PayPak Credit Card. This milestone reflects the strength of our domestic payment infrastructure and our commitment to delivering secure, convenient and locally powered payment solutions.'
Mr. Kashif Gaya, CEO, Euronet, said, 'We are proud to support this landmark PayPak Credit Card initiative as a card processor and the technology partner, bringing Euronet’s proven processing capabilities and deep payments expertise to the program.'
The partnership brings together HBL Microfinance Bank’s reach in microfinance, 1LINK’s domestic payment network, and Euronet’s technology capabilities to bring a new locally powered credit card proposition to the market.
At HBL Microfinance Bank, we see access to finance as a way to help customers move forward with confidence. As part of our commitment to expanding access to responsible and innovative financial solutions, we are proud to introduce the microfinance sector’s first credit card offering in Pakistan.
Mr. Amir Khan, President & CEO, HBL Microfinance Bank
Today marks a landmark moment for Pakistan’s payments ecosystem with the signing of the agreement for the first PayPak Credit Card. This milestone reflects the strength of our domestic payment infrastructure and our commitment to delivering secure, convenient and locally powered payment solutions.
Mr. Najeeb Agrawalla, CEO, 1LINK
We are proud to support this landmark PayPak Credit Card initiative as a card processor and the technology partner, bringing Euronet’s proven processing capabilities and deep payments expertise to the program.
Mr. Kashif Gaya, CEO, Euronet
