UnionPay International has inked an issuance agreement with Pakistan Summit Bank, whereby both financial institutions will jointly issue UnionPay cards in Pakistan.
The agreement will enable Summit Bank to transform more than half of its cards in circulation into UnionPay chip cards, and will also issue new cards. Until now, the bank has only issued debit cards.
The new cards will be global payment cards that will be accepted in UnionPay’s global network while support online payment.
Summit Bank will promote UnionPay card products as its key products in the future, as the bank has recognised UnionPay’s advantages in network, products and service system, as well as the security of its chip cards.
Summit Bank president and CEO Muhammad Zahir Esmail said through this cooperation, Summit Bank will provide the best debit and prepaid cards service for customers in Pakistan, and is looking forward to the two sides further cooperation in more fields so as to provide more financial products and services for the local residents.