Mastercard and BankIslami Join Forces to Strengthen the Digital Payments Ecosystem in Pakistan
Mastercard and BankIslami have collaborated to expand the bank's consumer and commercial card offerings and backing the continued expansion of digital payments in Pakistan.
Mastercard and BankIslami have collaborated to expand the bank's consumer and commercial card offerings and backing the continued expansion of digital payments in Pakistan.
Article outline
- What happened
- Official response
- The bottom line
Key points
- The collaboration includes a priority banking program featuring Mastercard World cards, along with Mastercard World Elite cards for affluent customers.
- Mastercard will backing the launch of BankIslami's unified loyalty platform throughout its card portfolio, providing customers with a consistent rewards and benefits experience.
- Mastercard powers commerce by connecting individuals and businesses through digital payment technology.
Meanwhile, the collaboration includes a priority banking program featuring Mastercard World cards, along with Mastercard World Elite cards for affluent customers. It additionally covers BankIslami's Shariah-compliant credit card program for customers throughout mass-market and affluent segments. The bank will additionally expand its Shariah-compliant offerings for corporates and small and medium-sized enterprises through debit cards and Business Payment Controls, helping businesses manage payments and optimize their supply chain processes.
Furthermore, Mastercard will backing the launch of BankIslami's unified loyalty platform throughout its card portfolio, providing customers with a consistent rewards and benefits experience.
"This collaboration with Mastercard strengthens our ability to provide customers with a broader range of Shariah-compliant card and payment solutions across individual and business banking", remarked Imran H Shaikh, President & Chief Executive Officer of BankIslami. "Our goal is to make Islamic banking the preferred choice for customers by combining Shariah-compliant solutions with the convenience and capabilities they expect from modern digital banking, " he continued.
"Mastercard powers commerce by connecting individuals and businesses through digital payment technology. Working with BankIslami, we are expanding payment options for consumers and small businesses in Pakistan, supporting the bank's Shariah-compliant card offerings and helping more customers participate in the digital economy, " remarked Arslan Khan, country manager, Pakistan and Afghanistan, Mastercard. Stay Connected with ProPakistani. Obtain the latest news and stories wherever you prefer. Follow on Google Discover. Follow on Google News Join WhatsApp. See more ProPakistani stories in Google Search and Top Stories.
Taken together, the developments around mastercard and BankIslami Join Forces to Strengthen the Digital Payments Ecosystem in point to a situation that is still moving, and the coming days should bring more clarity.
