Karachi, Pakistan – 1LINK Pvt. Limited, a prominent player in the payment industry, and global payments technology company Mastercard Inc. have signed a Memorandum of Understanding (MoU) to collaborate on revolutionizing Pakistan’s payments landscape. This strategic partnership aims to drive innovation, promote digitization, and provide secure and convenient payment solutions to consumers and businesses across the country.
With this collaboration, Mastercard will leverage its cutting-edge technologies, while 1LINK will capitalize on its strong market presence to introduce innovative payment solutions. The partnership will result in the introduction of various payment options, both domestically and internationally, including PayPak-Mastercard co-badged cards and PayPak Card-not-Present (CNP) transactions on Mastercard’s Payment Gateway Services (MPGS).
To ensure the successful implementation of this collaboration, Mastercard and 1LINK are committed to working closely with industry stakeholders, regulators, and financial institutions. The goal is to create a robust and inclusive payment ecosystem that benefits all participants.
The signing ceremony took place at 1HQ, 1LINK Pvt. Limited in Karachi and was attended by distinguished guests, including senior management from Mastercard and board members and management from 1LINK.
Najeeb Agrawalla, CEO of 1LINK, expressed excitement about the partnership, stating, “We are thrilled to embark on this multi-faceted partnership with Mastercard and believe it will open new avenues of opportunities for PayPak. By combining our strengths, expertise, and resources, we are well-positioned to bring transformative changes and drive innovation in the digital payment landscape in Pakistan.”
Dimitrios Dosis, President of Eastern Europe, Middle East, and Africa (EEMEA) at Mastercard, emphasized the rapid evolution of Pakistan’s payments landscape and the aim to connect more people to the benefits of the digital economy.
He said,
“Through our collaboration with 1LINK, we look forward to using our Mastercard technology to power seamless transactions, provide more choice, and enable greater flexibility. Collaboration with like-minded partners is at the heart of our business strategy as we work towards a more connected and inclusive future for all.”
The strategic partnership between 1LINK Pvt. Limited and Mastercard Inc. sets the stage for transformative changes in Pakistan’s payments industry, promising enhanced convenience, security, and flexibility for individuals and businesses alike. By leveraging their combined strengths, the two organizations aim to play a pivotal role in shaping the digital payment landscape and driving the country’s financial digitization efforts.
