Furthermore, consumers can use over 120,000 POS in-store machines and withdraw cash from more than 18,000 ATMs nationwide. UPaisa wallet users can also enjoy enhanced security features and fast and convenient transactions while becoming part of the global Mastercard network, which has access to over 100 million acceptance locations internationally.
“Our collaboration with UPaisa builds on our common goal of supporting Pakistan’s increasing shift towards a digital economy. In line with the objectives of the country’s Vision 2025, the launch of this new debit card will support the transformation of Pakistan’s payments landscape while enabling seamless, safe and convenient consumer experiences powered by advanced technology,” said Muhammad Nana, Senior Vice President, Digital Partnerships, EEMEA, Mastercard.
Mastercard’s partnership with U Microfinance Bank—a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) and the issuer of the new card—will enable consumers and businesses in 32 countries across the Middle East, Asia, and Africa to benefit from a variety of new technologies and user-friendly experiences.
“The UPaisa debit card, in partnership with Mastercard, is a testament to our sustained commitment to improving the digital banking experience through innovative and user-friendly financial solutions. We continue to scale our digital ecosystem to respond effectively to the evolving digital and financial needs of our customers, in addition to bringing more Pakistanis under the umbrella of digital and financial inclusion to promote their socioeconomic well-being,” said Syed Atif Raza, Chief Marketing Officer, PTCL and Ufone 4G.
UPaisa is one of the leading mobile financial services platforms in Pakistan. It provides a range of financial services, such as money transfers, bill payments, mobile top-ups, and ATM cardless cash withdrawals. The app also provides accessible, affordable, and convenient financial services, especially to the underserved or unbanked, so they can access opportunities for their social and economic growth and prosperity.