Bank Alfalah, a Pakistan-based card issuer and acquirer, in collaboration with 1Link (Guarantee) has rolled out its first PayPak Classic Debit Card.
1LINK (Guarantee) is a consortium of major banks that own and manages the largest representative interbank network in Pakistan.
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Touted to be the first domestic payment scheme launched by 1Link (Guarantee) in Pakistan, the PayPak seeks to offer an efficient and cost-effective payment solutions.
Using the new Alfalah PayPak Classic Debit Card, the cardholders can withdraw cash from 1Link’s ATM network of 8,000+ and conduct POS transactions at thousands of merchants across the country.
The card provides PIN-based customer authentication for ATMs, as well as POS transactions.
Bank Alfalah president and CEO Atif Bajwa said: “As we share the financial inclusion goals with those posited in State Bank of Pakistan’s Vision 2020, our partnership with 1Link to introduce the country’s first Domestic Payment Scheme will provide low-cost payment services to every citizen of Pakistan
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By GlobalData“We remain committed to our goal of revolutionizing Pakistan’s financial landscape, continuously striving to extend access of financial services to the underserved segments of our society.”
