Mastercard has entered into a multifaceted partnership with Pakistan-based Askari Bank to roll out new payments products.
The deal was signed at a ceremony held at Mastercard’s premises in presence of top management representatives of both the companies.
Through the partnership, the bank intends to provide payment solutions to its growing customers in Pakistan.
The bank will leverage its network, technology and insight to improve experiences for people across Pakistan.
As per the agreement, the bank will issue Mastercard-branded credit cards to new segments. The bank aims to expand its footprint in the Middle East and Africa regions as well.
Askari Bank president & CEO Abid Sattar said: “Our partnership with Mastercard will help us bring innovative payment solutions to more communities in Pakistan by harnessing their technology and decades of global experience.”
Mastercard said it will leverage its technology and advisory services to help the bank deliver safer, simpler and smarter payments solutions to more people.
Mastercard MENA division president Khalid Elgibali said: “The partnership with Askari Bank offers the opportunity to scale locally-relevant digital solutions, build stronger payment ecosystems, and extend payment infrastructure, bringing us closer to a world beyond cash.”
Last month, Dutch mobile lender bunq has expanded its alliance with Mastercard to increase the reach of its Green Card in Europe.