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.
Pakistani currency saw minor adjustment against global currencies on April 19, 2024. US dollar was being quoted at 277.4 for buying and 280.4 for selling.
Euro comes down to 293 for buying and 296 for selling while British Pound stands at 342.25 for buying, and 345.65 for selling.
UAE Dirham AED was at 75.2 and Saudi Riyal's new rates was at 73.30.
Currency | Symbol | Buying | Selling |
US Dollar | USD | 277.4 | 280.4 |
Euro | EUR | 293 | 296 |
UK Pound Sterling | GBP | 342.25 | 345.65 |
U.A.E Dirham | AED | 75.2 | 75.9 |
Saudi Riyal | SAR | 73.3 | 74.05 |
Australian Dollar | AUD | 181 | 182.8 |
Bahrain Dinar | BHD | 740.09 | 748.09 |
Canadian Dollar | CAD | 201 | 203 |
China Yuan | CNY | 38.44 | 38.84 |
Danish Krone | DKK | 39.69 | 40.09 |
Hong Kong Dollar | HKD | 35.53 | 35.88 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 902.64 | 911.64 |
Malaysian Ringgit | MYR | 58.08 | 58.68 |
New Zealand Dollar | NZD | 164.22 | 166.22 |
Norwegians Krone | NOK | 25.31 | 25.61 |
Omani Riyal | OMR | 722.87 | 730.87 |
Qatari Riyal | QAR | 76.45 | 77.15 |
Singapore Dollar | SGD | 204.5 | 206.5 |
Swedish Korona | SEK | 25.31 | 25.61 |
Swiss Franc | CHF | 305.08 | 307.58 |
Thai Bhat | THB | 7.56 | 7.71 |
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