Pakistan – Askari Bank, UnionPay sign agreement for debit card issuance

By | June 13, 2017

BEIJING: Askari Bank Limited (AKBL) and UnionPay International, one of the world’s largest payment schemes, has entered into an agreement to issue UnionPay QuickPass (NFC) and EMV Chip Cards in Pakistan. 

The initiative will allow AKBL customers to enjoy convenience of contactless payments ‘TAP & GO’ while keeping the payments safe and secure. 

The agreement would allow AKBL customers to conduct transactions at 41 million merchants and over two million ATMs worldwide along with 10 million online merchant sites. 

The partnership was signed by Farrukh Iqbal Khan, Group Head Operations, Askari Bank Limited Pakistan and Han Wang, General Manager, UnionPay International Middle East in Shanghai, China in the presence of Larry Wang, Chief Business Development Officer of UnionPay International, Asim Bashir-Country Head Branchless Banking & ADCs of AKBL. 

“Askari Bank has always been at the forefront in re-shaping and re-defining financial services landscape and signing agreement with UnionPay International for QuickPass (NFC) and EMV chip card issuance is yet another step”, Group Head Operations of Askari Bank Limited Farrukh Iqbal Khan said. 

He further said the Askari Bank will take advantage of UnionPay successful best practices for financial inclusion in China while re-defining AKBL strategic plan for financial inclusion. 

“We are excited to work with UnionPay in Pakistan. Askari Bank continues to focus on improving customer experience and providing greater convenience by continuing to introduce new and innovative products. ‘Tap & Go’ contactless payments will add further convenience for AKBL customers while keeping the payments safe and secure”, Country Head Branchless Banking & ADC of Askari Bank Limited Asim Bashir said. 

Chief Business Development Officer of UnionPay International Larry Wang  said, “We are glad to offer new payment options for Pakistanis together with AKBL. UnionPay have made quite an achievement in Pakistan these years. At present, 70pc of ATMs and 95pc of POS terminals in Pakistan accept UnionPay cards, and over 3.4 million UnionPay cards have been issued in the country. 

The launch of UnionPay innovative products like QuickPass and EMV chip cards here this time will further enhance our service capability for the local residents.” 

Source: Business Recorder

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