With hope to further strengthen their footprint across the Middle East and African Region, MasterCard, a company well known globally for electronic payments has formally commenced its operations in Pakistan.
MasterCard has opened their first ever office in the country in Karachi.
MasterCard Pakistan Private Limited willl now be providing a wide array of payment services in the region including debit, prepaid, corporate, credit and MasterCard Payment Gateway services through the newly opened office in Karachi.
Recently MasterCard also launched a new service known as Masterpass QR which allows people to conduct digital payments through their mobile banking applications. Users are able to pay in-store bills or use the service to pay through secure accounts.
Interestingly, MasterCard has also started a service in the western countries where people can pay with just taking a selfie. This service has not been introduced in Pakistan yet.
But since MasterCard is officially here, the service may be made available.
In an official statement, Mr. Aurangzaib Khan, MasterCard Area Head for Pakistan and Afghanistan region had the following to say:
Pakistan has always been a key strategic market for Mastercard and in the last couple of years, we have further sharpened our focus in the market to tap into the country’s tremendous growth potential and appetite for innovation in payments technology
In order to drive payments in Pakistan in a secure manner, MasterCard has partnered with MCB and Bank Alfalah.
The company also recently started a remittance solution known as HomeSend with the help of Meezan Bank.
MasterCard currently holds 17 key issuers in Pakistan which cover debit, credit and corporate cards.