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, enabling seamless transactions both within and outside Pakistan.
- This launch builds on HBL's long-standing partnerships with PayPak and UnionPay International.
HBL, the largest issuer of debit cards in Pakistan, has unveiled a new co-badge card that integrates domestic acceptance from 1Link operated PayPak and global reach through UnionPay International. The launch ceremony took place at HBL Tower in Karachi.
Developed in collaboration with 1Link operated PayPak, which is Pakistan’s first domestic payment scheme, and UnionPay International, the co-badge debit card features two networks on a single piece of plastic, ensuring secure and seamless transactions both within Pakistan and globally. This innovation aligns with HBL's commitment to enhancing financial connectivity between Pakistan and China.
HBL has been issuing UnionPay debit cards since 2013, making it one of the largest issuers in the country. The bank is also a pioneer partner of PayPak cards and currently holds the distinction of being the largest issuer and acquirer of PayPak cards. This new co-badge card further strengthens HBL’s position as a leader in Pakistan's financial sector.
The launch ceremony was attended by key industry leaders, including Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), Muhammad Nassir Salim, President & CEO of HBL, Li Yong from the Commercial Counsellor office of the People’s Republic of China, Aamir Kureshi, General Manager of HBL's President's Office and Strategic Initiatives, Nadeem Haroon, Country Head of Pakistan, Qatar, Bahrain & Afghanistan for UnionPay International, and Najeeb Agrawalla, CEO of 1Link.
This collaboration is part of HBL’s broader strategy to strengthen its footprint in the Chinese financial ecosystem. As the only Pakistani bank with branches in both Beijing and Urumqi, HBL continues to facilitate significant financial transactions between Pakistan and China. Recent highlights include facilitating Pakistan's inaugural Panda Bond issuance and being nominated as the Chair of the Council of the Interbank Consortium of the SCO (SCO IBC) for 2026-2027.
The launch of this co-badge card also aligns with the SBP’s vision to promote PayPak as a secure, inclusive, and interoperable digital payment ecosystem. By integrating domestic acceptance with global reach, HBL aims to enhance customer convenience and broaden financial inclusion in Pakistan.
