September 2024 — Bank Alfalah, one of Pakistan’s leading commercial banks, has partnered with UnionPay International (UPI) to introduce the country’s first PayPak co-badge platinum debit card. This collaboration marks a significant leap in the banking industry, providing customers with exclusive global privileges and seamless international transactions across 183 countries, thanks to UnionPay’s expansive payment network.
The agreement was formalized at a signing ceremony in Istanbul, with Atif Bajwa, President and CEO of Bank Alfalah, and James Yang, General Manager for the Middle East at UnionPay International, leading the event. Senior representatives from both organizations were present, including Mehreen Ahmed, Group Head of Retail Banking, Syed Muhammad Asif, Head of Consumer Finance, and others from Bank Alfalah, as well as Nadeem Haroon and Ali Abbas from UnionPay International.
Pioneering a New Era of Digital Banking
Mehreen Ahmed, Group Head of Retail Banking at Bank Alfalah, expressed her enthusiasm about the partnership:
“We are excited to collaborate with UnionPay International in bringing PayPak co-badge debit cards to our customers. This initiative opens new opportunities for cardholders, making international transactions smoother and more accessible. The launch of the UPI/PayPak Platinum Debit Card elevates the customer experience, offering unmatched convenience and financial empowerment.”
James Yang, General Manager for the Middle East at UnionPay International, highlighted the significance of this venture, stating:
“Our partnership with Bank Alfalah strengthens financial accessibility and convenience for Pakistani consumers. The co-badge debit card enables seamless global transactions, bridging local and international financial needs. We look forward to continuing our collaboration to deliver cutting-edge solutions that meet the evolving market demands.”
Aligning with the State Bank of Pakistan’s Vision
This collaboration supports the State Bank of Pakistan’s (SBP) drive to promote co-badge cards, encouraging financial institutions to offer products that enhance customer experiences. The UPI/PayPak Platinum Debit Card strengthens Bank Alfalah’s digital banking leadership while expanding its services beyond Pakistan’s borders.
With UnionPay’s global network, Bank Alfalah is offering cardholders exceptional financial flexibility and access to exclusive services. This partnership underscores the bank’s commitment to delivering innovative, customer-centric financial solutions.
The UPI/PayPak co-badge Platinum Debit Card sets a new standard in Pakistan’s banking industry, empowering customers with a global payment solution tailored for modern needs.
