PayPak Mastercard Co-Badge Debit Card
Faysal Bank Limited (FBL) has taken a pioneering step in Pakistan’s financial landscape by launching the country’s first-ever PayPak–Mastercard Co-Badge Debit Card. Developed in collaboration with PayPak and Mastercard, this innovative product marks a major milestone in enhancing Pakistan’s digital payments ecosystem. The breakthrough combines the global acceptance of Mastercard with the domestic strength and cost-efficiency of PayPak, supporting the State Bank of Pakistan’s vision for a modern, secure, and self-reliant payments infrastructure.
This launch signifies more than just a new debit card—it signals the beginning of a new chapter in Pakistan’s financial evolution, strengthening the local payment network while ensuring seamless global interoperability for millions of users.
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A Historic Moment for Pakistan’s Payments Ecosystem
As Pakistan continues its journey toward digital transformation, the need for secure, affordable, and convenient payment tools has grown significantly. PayPak, the country’s first domestic payment scheme, has already made major strides in reducing dependence on international schemes for local transactions. The introduction of a co-badge debit card represents the next stage of progress, combining domestic resilience with global connectivity.
With this initiative, Faysal Bank aims to empower customers by providing a debit card that works smoothly within Pakistan and abroad, enabling a consistent payment experience whether used at ATMs, online platforms, or retail stores worldwide.
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What the PayPak–Mastercard Co-Badge Debit Card Offers
The newly introduced debit card brings a host of powerful features to customers, supported by the combined strengths of PayPak and Mastercard.
1. Dual-Network Acceptance
The card allows users to make domestic transactions through PayPak while enjoying Mastercard’s international acceptance across millions of merchants and ATMs.
2. Cost Efficiency
PayPak infrastructure ensures economical domestic transactions, making digital payments more accessible and affordable.
3. Enhanced Security
With Mastercard’s global security protocols and PayPak’s reliable local processing, cardholders benefit from strong fraud prevention and secure authentication.
4. Digital Compatibility
The card supports contactless payments, digital commerce, and integration with modern banking apps and e-wallets.
5. Seamless Interoperability
Whether customers are shopping within Pakistan or traveling abroad, transactions remain smooth, consistent, and reliable.
This collaboration not only benefits customers but also strengthens Pakistan’s digital economy by enhancing competitiveness, reducing reliance on foreign processing systems, and increasing financial inclusion.
Launch Event: Leadership and Vision
The launch ceremony was graced by prominent leaders from Pakistan’s financial sector.
Mr. Jameel Ahmad, Governor State Bank of Pakistan, attended as the Chief Guest, accompanied by Mr. Saleem Ullah, Deputy Governor SBP, along with senior leadership from Faysal Bank, PayPak, Mastercard, and Euronet.
Their presence reflects the strategic importance of this partnership in shaping the future of digital payments in Pakistan.
Statements from Key Officials
Governor SBP, Mr. Jameel Ahmad
The Governor highlighted the significance of this co-badging initiative in creating value through collaboration between domestic and international payment schemes. He emphasized the SBP’s commitment to building an interoperable, secure, and self-sustaining digital payments ecosystem that drives financial inclusion and long-term economic growth.
President & CEO Faysal Bank, Mr. Yousaf Hussain
Mr. Hussain expressed pride in Faysal Bank’s role as an industry leader in digital innovation. He compared this launch to other firsts introduced by the bank, such as the Noor Card, Pakistan’s only fully Shariah-compliant credit card. He reiterated FBL’s mission to offer modern, secure, and accessible digital products aligned with the State Bank’s vision for a robust financial system.
A Major Leap for Shariah-Compliant and Digital Banking
Faysal Bank, known for its fully Shariah-compliant conversion and digital-focused strategy, continues to lead with innovative solutions designed for modern consumers. By combining Islamic banking principles with advanced technology, the bank is shaping the future of ethical, accessible, and globally integrated financial services in Pakistan.
The new co-badge debit card will not only enhance customer convenience but also promote digital payment adoption across the country—especially in areas where physical banking infrastructure remains limited.
Conclusion
The launch of Pakistan’s first PayPak–Mastercard Co-Badge Debit Card represents a landmark achievement for Faysal Bank and a transformative step for the country’s digital payments landscape. By merging domestic capability with global reach, the initiative strengthens the payments ecosystem, empowers consumers, and supports the national vision for a secure, inclusive, and modern financial future.
As Pakistan continues its rapid digital evolution, collaborations like these will play a crucial role in building a resilient and globally connected financial infrastructure—one that benefits individuals, businesses, and the economy as a whole.
