Pakistan’s Habib Bank has entered into a strategic collaboration with MasterCard to introduce latest payment tools in Pakistan that will provide a safe, simple and secure payment experience to cardholders.
Under the new collaboration, Habib Bank will issue more than seven million MasterCard payment cards in five years including debit cards that will feature the highly-secure EMV Chip and Pin technology, prepaid cards, premium debit and prepaid cards as well as companion cards issued by HBL Express, the branchless banking arm of Habib Bank.
Apart from the introduction of the latest payment technologies, the strategic collaboration will pave way for the development of customized solutions that meets the specific needs of consumers in Pakistan.
Habib Bank, with an aim to diversify its payment solutions portfolio, will also issue MasterCard payment solutions specifically for students and the youth.
Faiq Sadiq, group head of payment services at Habib Bank, said: "We are very excited about our partnership with MasterCard. As Pakistan’s largest bank, we recognize the importance of providing Pakistani’s with the latest and most secure payment options. Working with an industry leader such as MasterCard will help us deliver on our commitment to introduce innovative payment solutions for masses in Pakistan."