MCB and Euronet Pakistan launched an EMV debit
MCB and Euronet claimed that this was the
first EMV debit card in Pakistan.
The service and product meet global EMV
standards in security and regulations, said MCB after a project
The banking group’s head of consumer banking,
Ali Mubashir Kazmi, said:
“Euronet systems are highly flexible, robust
and yet at the same time have readily available modules to launch
new initiatives in this rapidly evolving payment processing arena.
[We] already have a comprehensive plan in place for steady progress
towards being able to offer the best electronic banking services in
Euronet Pakistan is a subsidiary of Euronet
Worldwide and is based in Karachi, Pakistan.
MCB is one of the widest-networked banks in
Pakistan, holding a debit card portfolio of 2.5 million cards and
over 650 ATMs throughout the country. Last year it entered a
mobile money agreement with Nokia which could see it grow
substantially over the next four years.