In order to move operations towards the Middle East with more effect to strengthen its footprint, the company, MasterCard is a technological global payments setup and has now formally commenced with official operations and business in Pakistan. According to a report, MasterCard will also be setting up their office setup in Karachi.
Mastercard Pakistan Private Limited will provide a wide range of payments services, including debit, credit, prepaid, corporate, Mastercard Payment Gateway Services, Mastercard Rewards Solutions and digital payment solutions for its newly-established dedicated office. The company has also launched Masterpass QR to allow consumers to carry on with their banking transactions through an online mobile application, allowing them to pay in-store bill payments.MC 1
“Pakistan has always been a key strategic market for Mastercard and in the last couple of years, we have further sharpened our focus in the market to tap into the country’s tremendous growth potential and appetite for innovation in payments technology”, said Aurangzaib Khan, Mastercard Area Head for Pakistan and Afghanistan.
Mastercard drives online payments in Pakistan through Bank Alfalah and MCB Bank. Recently, it also introduced HomeSend, a remittance solution, with Meezan Bank. this has enabled mastercard in Pakistan payments for smaller and micro merchants. Earlier, the company had launched the first Mobile Point-of-Sale (mPOS) service in the country in collaboration with Habib Bank Limited in 2015. Mastercard currently has 17 key issuers in the country covering both, the debit and credit, and corporate cards.