Mastercard and The Bank of Punjab (BOP) have expanded their longstanding strategic partnership to accelerate Pakistan’s transition towards a cashless economy by strengthening digital payments, modernising public sector financial services and enhancing cross-border payment capabilities. The renewed collaboration aligns with the country’s broader digital transformation agenda and aims to promote greater financial inclusion through innovative payment solutions.
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The expanded partnership will focus on advancing secure digital payment infrastructure across multiple sectors, including government services, public transportation, merchant payments and e-commerce. Both organisations also plan to introduce additional contactless payment solutions and strengthen digital acceptance among businesses, helping reduce reliance on cash while improving convenience for consumers and merchants.
A key area of collaboration includes the digitisation of Punjab’s largest public transit programme, covering 13 cities, where commuters will be able to make seamless contactless fare payments using BOP-issued Mastercard payment cards. The initiative is expected to improve commuter convenience while supporting the development of an integrated, modern and cashless public transport ecosystem.
The two organisations will also explore opportunities to strengthen cross-border payments and remittances by combining Mastercard’s global payment network with BOP’s expanding international banking capabilities. The initiative aims to make remittance services faster, more secure and more accessible for overseas Pakistanis and their families. In addition, both partners will continue supporting government disbursement programmes through secure digital payment mechanisms that improve transparency and operational efficiency.
Speaking on the occasion, Zafar Masud, President and CEO of The Bank of Punjab, said the partnership has already demonstrated the transformative impact of digital payments on financial inclusion, government service delivery and economic development. Ailish Campbell, Senior Vice President for Market Development at Mastercard, said the collaboration would leverage Mastercard’s global expertise and secure payment technologies to help build a resilient and inclusive digital economy in Pakistan.
Industry experts believe the expanded alliance represents another important milestone in Pakistan’s digital payments journey. As digital banking adoption continues to grow, collaborations between financial institutions and global payment networks are expected to play a critical role in modernising payment infrastructure, expanding financial access and supporting the country’s long-term digital transformation objectives.
