Mastercard signs agreement with Askari Bank to expand Credit Card issuance and bring innovative payment solutions to Pakistan

April 16, 2020 | Karachi, Pakistan

Mastercard has signed an agreement with Askari Bank Pakistan for a multifaceted partnership to enhance customer experience and launch new products for a growing number of the Bank’s customers. The agreement is part of Mastercard and the Bank’s commitment to bring innovative payment solutions to more people across the Middle East and Africa region and forge strategic partnerships that empower the Pakistani market. Representatives from Mastercard and Askari Bank’s top management witnessed the signing which took place at an exclusive ceremony held at Mastercard’s premises.

Through the agreement, Mastercard will support Askari Bank to enhance its product offering and expand its portfolio to reach more people, bringing its network, technology and insights to improve the day-to-day experiences for people across Pakistan. Moreover, it will help facilitate further growth for Askari Bank via increased credit card issuance to new segments, meeting the growing need for diversified banking products in Pakistan. Askari Bank will also benefit from Mastercard’s technological expertise and advisory support to ultimately deliver safer, simpler, and smarter payment solutions to more people.

“We are delighted to partner with Askari Bank to rollout an efficient digital payment solution that is fueled by innovation and makes payments more convenient, secure and efficient for people in the country.  We believe that effective collaborations are key to driving electronic payments, advancing economies, and developing smarter cities to better serve communities. The partnership with Askari Bank offers the opportunity to scale locally-relevant digital solutions, build stronger payment ecosystems, and extend payment infrastructure, bringing us closer to a world beyond cash,” said Khalid Elgibali, Division President, Mastercard MENA.

“Our partnership with Mastercard will help us bring innovative payment solutions to more communities in Pakistan by harnessing their technology and decades of global experience. The region’s digital and payments ecosystem is undergoing rapid transformation and Askari Bank is poised to remain at the forefront of this change to deliver affordable and convenient solutions to people around the country. The government is committed to embracing innovation and advancing the national economy, and partnerships like this are key to achieving this common goal,” said Abid Sattar, President & CEO, Askari Bank.