Islamabad: Mastercard and UPaisa, a digital and financial application by U Microfinance Bank and Ufone 4G, have introduced a new physical and virtual debit card, enhancing the digital payment environment in Pakistan. Consumers now have access to a seamless and secure method for online shopping with over 7,500 online retailers in Pakistan and wherever Mastercard is accepted worldwide.
Additionally, users can utilize more than 120,000 point-of-sale (POS) terminals in stores and withdraw cash from over 18,000 ATMs across the country. UPaisa wallet holders will also benefit from improved security features and rapid, convenient transactions while joining the global Mastercard network, which offers access to over 100 million locations internationally.Romina urges expansion of marine protected areas’ cover
“Our partnership with UPaisa aligns with our shared vision of supporting Pakistan’s growing transition to a digital economy. In line with the goals of the country’s Vision 2025, the introduction of this new debit card will aid in transforming Pakistan’s payment landscape while providing smooth, secure, and convenient consumer experiences, driven by cutting-edge technology,” said Muhammad Nana, Senior Vice President of Digital Partnerships, EEMEA, Mastercard.
Mastercard’s collaboration with U Microfinance Bank, a fully owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) and the issuer of the new card, will allow consumers and businesses in 32 countries across the Middle East, Asia, and Africa to benefit from a range of new technologies and user-friendly experiences.
“The UPaisa debit card, developed in partnership with Mastercard, reflects our ongoing dedication to enhancing the digital banking experience through innovative and accessible financial solutions. We continue to expand our digital ecosystem to effectively address the evolving digital and financial needs of our customers, while also including more Pakistanis in the digital and financial inclusion framework to support their socioeconomic advancement,” said Syed Atif Raza, Chief Marketing Officer, PTCL and Ufone 4G.
UPaisa is one of Pakistan’s leading mobile financial services platforms, offering a range of financial services including money transfers, bill payments, mobile top-ups, and cardless ATM withdrawals. The app provides accessible, affordable, and convenient financial services, particularly for those who are underserved or unbanked, thereby facilitating opportunities for social and economic development and prosperity.
