Habib Bank Limited (HBL), the nation’s largest debit card issuer, today unveiled a strategic partnership with UnionPay International and PayPak, introducing a co-badged debit card designed to bridge local and global payment systems in a move that significantly enhances the international usability of Pakistan”s domestic payment scheme.
The newly launched HBL UnionPay PayPak Co-Badge Debit Card will allow customers to conduct transactions seamlessly, enabling cash withdrawals at ATMs and purchases at point-of-sale (POS) terminals both within Pakistan and across the globe.
This initiative integrates PayPak’s widespread domestic network with UnionPay International”s extensive worldwide acceptance, directly aligning with the State Bank of Pakistan”s (SBP) vision to fortify the country”s payment infrastructure.
The collaboration is also anticipated to deepen financial cooperation between Pakistan and China while elevating the value proposition of the national PayPak payment system.
The tripartite agreement was formalized at a signing ceremony attended by prominent figures from the banking and diplomatic sectors.
Notable attendees included Saleem Ullah, Deputy Governor of the SBP; Muhammad Nassir Salim, President and CEO of HBL; and Li Yong, the Commercial Counsellor from the Consulate General of the People”s Republic of China. Also present were Aamir Kureshi, Head of Products at HBL; Luping Zhang, General Manager for UnionPay International in the Middle East; and Najeeb Agrawalla, CEO of 1LINK, underscoring the venture”s significance.