PITB signs MoU to integrate Mastercard with PayZen 

06:44 PM | 1 Jul, 2022
PITB signs MoU to integrate Mastercard with PayZen 
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LAHORE – Punjab Information Technology Board (PITB) has inked a memorandum of understanding (MoU) to integrate Mastercard Asia/Pacific Pte. Ltd with PayZen, a modern digital payment solution to facilitate money movement between different segments of the Financial Ecosystem. 

The agreement was signed by PITB Director-General IT-Operations (IT-Ops) Faisal Yousaf and Country General Manager Middle East & North Africa (MENA) East J K Khalil during a ceremony conducted at Arfa Software Technology Park (ASTP) in Lahore. 

While addressing the event, PITB IT-Ops DG Faisal Yousaf said, ‘PITB plans to work with Mastercard to identify new opportunities for facilitation of the citizens. This collaboration will explore joint-ventures for digitization of government payments in Pakistan and worldwide.’ He further stressed to expand cooperation in various areas including food, livestock, fee and toll collection etc in near future.

Mastercard’s Country General Manager J K Khalil expressed gratitude over PITB’s technical support and offered their global expertise on 'open loop transit solutions' that allow customers to pay using their Debit/Credit/ Pre-Paid cards for transportation. In this regard, necessary support will be extended to PITB through partner acquiring bank, he pledged.

The Mastercard integration with PITB will also provide the possibility of establishing Mastercard Farmer Network / Provenance Solutions in Pakistan enabling farmers to sell their crops across the world.

Under this MoU, cooperation on various strategic alliance opportunities including formalizing the potential collaboration with respect to introducing Digital Financial Services in PITB will be ensured.

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