Key Takeaways
- HBL, Pakistan’s largest debit card issuer, launched the HBL PayPak UnionPay Co-Badge Debit Card.
- The card combines domestic acceptance with global reach through two networks on a single piece of plastic.
- This launch builds on HBL's long-standing partnership with both PayPak and UnionPay International.
HBL, Pakistan’s largest issuer of debit cards, has unveiled the HBL PayPak UnionPay Co-Badge Debit Card at a ceremony held at HBL Tower in Karachi. The card is designed to leverage the domestic acceptance of PayPak with the global reach of UnionPay International (UPI), creating a seamless payment experience for customers both within Pakistan and abroad.
Developed in partnership with 1Link operated PayPak, Pakistan’s first domestic payment scheme, and UPI, this dual-interface card features two networks on a single piece of plastic. This innovation aims to empower customers by enabling secure transactions across multiple platforms, thereby enhancing the overall digital payment ecosystem in the country.
HBL has been at the forefront of financial services in Pakistan, with a long-standing partnership with PayPak and UnionPay International. The bank is currently one of the largest issuers and acquirers of PayPak cards in the country and has been issuing UnionPay debit cards since 2013. This collaboration aligns with HBL’s commitment to strengthening financial connectivity between Pakistan and China, a cornerstone of its international footprint.
The launch ceremony was attended by key industry leaders including Jameel Ahmad, Governor – SBP; Muhammad Nassir Salim, President & CEO – HBL; Li Yong, Commercial Counsellor – People’s Republic of China; Aamir Kureshi, General Manager, President’s Office and Strategic Initiatives – HBL; Nadeem Haroon, Country Head, Pakistan, Qatar, Bahrain & Afghanistan – Union Pay International; and Najeeb Agrawalla, CEO – 1LINK. The presence of these leaders underscores the significance of this partnership in promoting secure and inclusive digital payment solutions.
This collaboration also aligns with the State Bank of Pakistan’s vision to promote PayPak as a secure, inclusive, and interoperable digital payment ecosystem. The launch of the HBL PayPak UnionPay Co-Badge Debit Card is expected to enhance the acceptance and usage of domestic payment schemes while providing customers with access to global financial services.
The card will be available for purchase through HBL’s extensive network of branches and ATMs, as well as online platforms. This move by HBL aims to further integrate Pakistan into the global financial landscape, leveraging the strengths of both PayPak and UnionPay International.
