Dubai, UAE: Mastercard has partnered exclusively with the Bank of Punjab (BOP) to elevate the bank’s digital offerings across consumer debit and credit cards, affluent portfolios, and loyalty programs. This collaboration aims to redefine BOP’s digital ecosystem and enrich the overall customer experience.
Through this partnership, customers of BOP’s priority banking program, KHAAS, can now access Mastercard’s premium World and World Elite cards. The initiative targets affluent segments with revamped customer value propositions (CVPs) and cutting-edge products, positioning KHAAS as the preferred choice for high-net-worth individuals (HNIs) in Pakistan. Additionally, the bank plans to introduce Islamic credit cards, catering to the growing demand for Sharia-compliant payment solutions.
BOP will also launch an enterprise-wide loyalty program powered by Mastercard’s global expertise, including Pay with Rewards and Mastercard Rewards Solutions. This innovative system enables customers to redeem loyalty points instantly at the point of purchase, delivering a seamless and rewarding digital experience.
Furthermore, the collaboration will enhance the user interface (UI) and user experience (UX) of BOP’s mobile app, digiBOP. Using Mastercard’s Digital Spark Lab, the bank will leverage the latest digital technologies and design thinking to deliver a more intuitive and engaging app experience.
Key joint initiatives extend into transit payments, Mastercard Gateway, and low-cost acceptance solutions. Together, Mastercard and BOP are also driving innovation in Pakistan’s agriculture sector. They have introduced the Kissan Card, offering small farmers interest-free loans and enabling them to transact digitally with agri-dealers through Mastercard’s low-cost Tap-on-Phone solution. Similarly, the Livestock Card provides interest-free financing based on farmers’ available livestock, further enhancing the digitization of the agricultural ecosystem.
Nofel Daud, Chief Digital Officer at BOP, shared his excitement about the partnership, stating, “Mastercard is a trusted ally in our digital transformation journey. This strengthened collaboration adds immense value to our offerings, positioning BOP as Pakistan’s fastest-growing digital bank with a focus on innovation, exceptional products, and superior customer experience.”
Arslan Khan, Country Manager for Pakistan and Afghanistan at Mastercard, emphasized, “Our partnership with BOP reflects our commitment to Pakistan’s digital transformation and economic growth. Together, we are introducing innovative solutions to promote financial inclusion, digitize payment flows, and enhance financial access for underserved communities. This collaboration also boosts BOP’s affluent proposition, enterprise-wide loyalty programs, and Islamic banking solutions, while enriching its customers’ digital journey.”
The longstanding relationship between Mastercard and BOP has already achieved remarkable milestones. In 2023, they introduced a freelancer digital account and card in collaboration with the Pakistan Software Export Board (PSEB), targeting gig workers in the IT sector. Earlier in 2024, BOP became Pakistan’s first bank to issue Mastercard SME cards, addressing challenges faced by over 5.2 million MSMEs and 2.5 million freelancers. The bank also actively supports Mastercard’s Strive Women program, which empowers women entrepreneurs by improving financial access.
About Mastercard
Mastercard operates in over 200 countries and territories, empowering people and economies worldwide. By delivering secure, simple, and innovative digital payment solutions, Mastercard fosters sustainability and financial inclusion. Through technology, partnerships, and networks, the company helps businesses, governments, and individuals unlock their full potential.
