After the prominent banks signed agreements with 1link including Bank Al Habib, Faysal Bank, Habib Metro and some others to launch PayPak Debit Cards in order to facilitate their customers to make payments online and at various POS points, Bank Islami has now signed an agreement with 1Link to launch its PayPak Debit Card.
PayPak is the domestic payment scheme which enables customers to make domestic payments more conveniently and even faster. Bank Islami is looking to promote its domestic payments through its nationwide branch network consisting of 320 branches across 105 cities of Pakistan.
The agreement is a step forward in promoting financial digitalization in Pakistan which is an initiative by State Bank of Pakistan, the National Financial Inclusion Strategy 2020 is the policy developed by SBP in order to promote financial digitalization in Pakistan.
The CEO of Bank Islami Pakistan, Hasan A. Bilgrami and CEO 1Link Najeeb Agrawalla signed this agreement during a ceremony. While speaking to gathering Mr. Hasan said, “Setting the tone of innovation in Pakistan’s banking industry, Bank Islami became the first bank to introduce Biometric Authorization in ATMs in 2016, we are excited to be among the first batch of banks to introduce 1Link PayPak debit cards to promote domestic payment scheme.” We are committed to further enhance innovation in our products and services for our valued customers, he added.
Mr. Najeeb said, “1Link welcomes Bank Islami to take the initiative and this development would definitely be going to increase digital transactions in the country.”