Faysal Bank Limited (FBL) has now jumped into Pakistan’s domestic payment scheme and launched its “PayPak” Debit card.
Previously, Habib Metro Bank has announced in June to launch PayPak Debit Card for its customers. Habib metro bank signed an agreement with 1Link an intra-bank payments system to launch its PayPak debit card.
Faysal Bank now utilizes the opportunity to provide convenience to their customers for their day to day ATM and retail purchase transactions without carrying cash with them or using international transactions.
Fawad Farrukh head of retail banking at Faysal Bank said, the card is PIN based which ensures higher level security at ATM’s and Point of Sale (POS) channels. We are happy to announce PayPak debit card for our retail customers and consumer finance customers. This card will increase their access to financial services in Pakistan. Our focus is to increase the use of PayPak debit card along with other diversified associated products.
Khurram Gul Agha, Head of IT & Transaction Banking at Faysal Bank said, “We are committed to providing innovative solutions to our customers, along with that we are happy to work with 1Link to let us introduce the innovative local payment scheme for our customers.”
Apart from Faysal Bank, PayPak debit card is being offered by various other banks including HBL, Bank Alfalah, Allied Bank, Askari Bank and some others. Introducing Swift payment systems local and abroad are the part of SBP’s greater financial and digital inclusion initiative in which the focus is to revolutionize the financial and banking landscape of the country.