United Bank Limited (UBL), a commercial bank in Pakistan, has signed a memorandum of understanding (MoU) with Institute of Chartered Accountants of Pakistan (ICAP) to exclusively issue co-branded Visa prepaid card for the institute’s students and members.
The prepaid card will allow ICAP students to pay their registration and examination fees by clicking a button online on ICAP’s website.
The agreement will facilitate the progression of paperless processing and cashless transactions together with the promotion of the online experience amongst the future corporate managers of Pakistan.
ICAP has already partnered with UBL to upgrade its web platform to accept internet based payments using UBL’s go-green internet merchant acquiring initiative. The MoU was signed at ICAP’s head office in Karachi.
UBL head of digital banking Khurram Rezvi said: "This initiative will provide great convenience to the students across Pakistan."
ICAP secretary Feroz Rizvi said: "With ICAP’s diverse student base spread across the country, this facility will prove to be effective in inculcating paperless processing, while, at the same time, empowering the students."