Islamabad: Mastercard and UPaisa – a digital and financial app from U Microfinance Bank and Ufone 4G – have launched a new physical and virtual debit card to support digital payments in Pakistan. Consumers can now benefit from a hassle-free and secure way to shop online at over 7,500 online merchants in Pakistan and wherever Mastercard is accepted worldwide.
In addition, consumers can use more than 120,000 cash registers in stores and withdraw cash from more than 18,000 ATMs nationwide. UPaisa wallet users can also enjoy enhanced security features and fast and convenient transactions, while being part of Mastercard’s global network with access to more than 100 million acceptance points internationally. “Our collaboration with UPaisa builds on our shared goals of supporting Pakistan’s growing transition to a digital economy.
In line with Vision 2025, the launch of this new debit card will help transform Pakistan’s payments landscape while enabling seamless, secure and convenient consumer experiences powered by advanced technology,” said Muhammad Nana, Senior Vice President. , Digital Partnership, EEMEA, Mastercard. Mastercard’s partnership with U Microfinance Bank – a wholly-owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) and issuer of the new card – will enable consumers and businesses in 32 countries across the Middle East, Asia and Africa to enjoy a range of benefits. new technologies and user-friendly experiences.
“The UPaisa Debit Card in partnership with Mastercard is a testament to our continued commitment to improving digital banking through innovative and user-friendly financial solutions. We continue to expand our digital ecosystem to effectively respond to the evolving digital and financial needs of our customers.” customers and will further bring more Pakistanis under the umbrella of digital and financial inclusion to boost their socio-economic well-being,” said Syed Atif Raza, Chief Marketing Officer, PTCL and Ufone 4G.
UPaisa is one of the leading mobile financial services platform in Pakistan that provides a range of financial services such as money transfers, bill payments, mobile recharges and ATM cash withdrawals. The app also provides accessible, affordable and convenient financial services, especially to the underserved or unbanked, so they can access opportunities for their social and economic growth and prosperity.
