“Mastercard has signed a strategic partnership with the Pakistani intelligent transport systems provider, One Network, to digitize the country’s road toll payments network. The announcement was signed at the Pakistan Pavilion at Expo 2020 Dubai, where Mastercard is the Official Payment Technology Partner, in the presence of Frontier Works Organization, Pakistan’s biggest toll collection entity.”

“Pakistan’s leading mobile account provider, JazzCash, in collaboration Mastercard, is strengthening the country’s digital payments ecosystem. JazzCash users will now be able to apply for a physical or virtual Mastercard Debit Card and make payments to merchants accepting Mastercard QR payments. The new Mastercard Debit Card will be available to all JazzCash users via a hassle-free application process through the mobile app, call center or by dialing *786#.  The card can be used to pay at over 67,000 point of sale merchants and over 2,000 local online merchants. It also provides access to cash withdrawals at over 16,000 automated teller machines (ATM). Customers will also be able to get Mastercard Virtual Cards instantly through the JazzCash app and then immediately use it for secure online payments.”

“TAG Innovation Pvt. will start offering financial services this month in the world’s fifth most populous nation where 70% of adults don’t have a bank account. The Islamabad-based fintech startup will launch with a limited number of customers and will start commercial operations in two to three months after it gets central bank approval, Chief Executive Officer Talal Gondal said in an interview. The startup aims to have millions of customers for its digital wallets in the first few years under its electronic money institution license, he said.”

“Karandaaz Pakistan is accepting applications from commercial banks, branchless banks, PSO/PSPs, Fintechs, non-banking financial institutions and entities that primarily focus on the excluded segments of the population, to apply for grants to scale up their pilots that generate new financial use-cases for digital channels. Two categories that have been defined for this set of grants are savings and insurance. In savings, pilots that are testing the use-case generation in term deposits, periodic returns, and rotating savings and credit association (ROSCA), locally known as committee system will be focused”

“PAKISTAN has been undergoing a digital shift for some years now which has changed the way people shop, pay bills, order cabs, buy cinema tickets, book hotels, do grocery shopping and dine outside.”

“The State Bank of Pakistan (SBP) on Wednesday unveiled new guidelines for electronic funds transfer to ensure consumer protection and payment transparency.The guidelines define how customers should electronically access their bank accounts for fund transfer, using automated teller machines (ATMs), internet and mobile devices. The regulations will be effective from October.”