After strongly capturing the Middle Eastern and African region, Mastercard, a well reputed international payments company, sets its foot in Pakistan by officially commencing its operations. The company has recently launched its office in Karachi with the prime objective to penetrate deeper in the growing Pakistani market.
Mastercard Pakistan Private Limited intends to provide all conventional and technology driven payment solutions such as debit, credit, prepaid services, corporate, Master rewards solutions, Master payment gateway services along with all digital payment products as well.
The company has recently won accolades after it launched an interoperable digital payment service in Pakistan with the name of ‘Masterpass QR’. This innovative service allows banking consumers to pay through their mobile banking app at a store, pay their bills, and also for delivery by using one safe account. All consumers which are looking for a convenient, safe and quick payment service through a mobile banking app will undoubtedly use this service.
Mastercard has spread its wings on many fronts by not only running an online payment mechanism in Pakistan but also forming alliances with other niche players. It currently powers online payments for two major acquiring banks in the country including Bank Alfalah and MCB Bank. Mastercard also launched a remittance product with Meezan Bank by the name of ‘Home Send’.
Realizing the potential of smaller payments, Mastercard joined hands with Habib Bank Limited last year and introduced the first Mobile- Point- of Sale (mPOS) service. This service will facilitate card payments for smaller and micro merchants.
Overall, the position of Mastercard is strong as it has 17 major issuers in Pakistan including a wide range of payment services such as debit, credit and corporate card issuance services.