KARACHI – Mastercard and Bank of Punjab (BOP) reaffirmed and expanded their long-standing strategic partnership to support Pakistan’s transition towards a cashless, digitally connected and financially inclusive economy.
The renewed collaboration was discussed during high-level meeting held in Karachi, where senior leadership from both organisations explored new opportunities to strengthen digital payments, financial inclusion and payment infrastructure across the country.
Mastercard delegation was led by Ms. Ailish Campbell, Executive Vice President – Public Sector, and included Mr. Arslan Khan, Country Manager – Pakistan, and Mr. Jibran Jamshad, Director – Business Development. The BOP delegation was headed by Mr. Zafar Masud, President & CEO, alongside Mr. Nofel Daud, Chief Digital Officer, Mr. Raza Bashir, Chief of Staff & Strategy, Mr. Qasim Nadeem, Group Head – Treasury & Financial Institutions, and Mr. Rai Usman, Head of Cards.
Building on their successful collaboration, both organisations discussed expanding joint efforts to support Pakistan’s digital economy through financial inclusion, transit payments, digital government disbursements and cross-border remittances. The discussions focused on increasing the acceptance and usage of secure digital payment solutions among consumers, merchants, businesses and government institutions through innovative card-based solutions, e-commerce, contactless payments and next-generation payment technologies.
The meeting also reviewed the progress made under the Government of Punjab’s flagship financial inclusion and development initiatives, where Mastercard-enabled debit and credit cards issued by BOP have played a significant role in expanding access to formal financial services. These include the CM Punjab Asaan Karobar Card, CM Punjab Kissan Card and CM Punjab Livestock Card, which have provided secure, transparent and scalable financing to entrepreneurs, farmers and livestock owners across Punjab.
BOP also highlighted the successful implementation of the Ramzan Nigehban Programme, under which financial assistance was distributed through Mastercard-enabled debit cards. The initiative demonstrated how digital payment mechanisms can improve transparency, operational efficiency and the overall beneficiary experience while reducing dependence on cash-based disbursement systems.
Recognising the increasing demand for smart and accessible mobility solutions, Mastercard and BOP are also collaborating on the digitisation of Punjab’s largest transit programme, covering 13 cities. The initiative will enable commuters to make seamless contactless fare payments using bank-issued cards, supporting Pakistan’s broader vision of developing modern, integrated and cashless public transport systems.
In addition, both organisations explored opportunities to strengthen cooperation in cross-border payments and remittances by leveraging Mastercard’s global payment network alongside BOP’s expanding international payment capabilities. The collaboration aims to improve convenience, accessibility and efficiency for overseas Pakistanis and their families.
Speaking on the occasion, Mr. Zafar Masud, President & CEO of The Bank of Punjab, said the partnership with Mastercard has already demonstrated the transformative role digital payments can play in advancing financial inclusion, improving government service delivery and supporting economic development.
“Our collaboration with Mastercard has already demonstrated the transformative role digital payments can play in supporting financial inclusion, government service delivery and economic development. Together, we have enabled some of Punjab’s largest digital financing and social support initiatives. As we look ahead, we see significant opportunities to expand our collaboration in building a cashless economy, modernising payment infrastructure, strengthening remittance ecosystems and providing innovative solutions that create lasting value for citizens, businesses and governments,” he said.
Ms. Ailish Campbell, Executive Vice President Public Sector at Mastercard, said Pakistan is laying a strong foundation for the future of digital payments, and Mastercard remains committed to supporting the country’s digital transformation journey.
“As Pakistan paves the way for the future of payments with clarity, conviction and institutional strength, Mastercard is proud to collaborate with BOP to help advance the nation’s digital transformation efforts. By combining our global expertise and secure payment technologies with robust public sector partnerships, we can contribute to shaping a prosperous and resilient digital economy where everyone can thrive,” she said.
Mastercard currently powers economies and empowers people across more than 200 countries and territories worldwide. Through its technology, payment networks, innovation and partnerships, the company supports secure, simple, smart and accessible digital payment solutions, helping individuals, businesses and governments build resilient and inclusive economies.
