Pakistan-based United Bank Limited (UBL) has introduced a new QR code-based digital payment service in Pakistan in collaboration with MasterCard.
Dubbed as Masterpass QR, the new digital payment service enables users to use their UBL's mobile banking apps to pay for in-store, bill payments and for delivery with one secure account.
The bank believes that the new service will prove beneficial for its existing and potential customers with a fast, secure and convenient payment experience.
At the checkout, users just require to 'simply scan to pay' by accessing the Masterpass QR functionality on their UBL mobile app and scanning the QR code displayed at the merchant's checkout counter.
After that, customers enter the amount of the transaction and their PIN, to complete the transaction.
UBL president and CEO Wajahat Husain said: “UBL has been a leading financial institution for the last 57 years. During this period, the bank has come to be acknowledged as a Progressive and Innovative bank.
“These two attributes of the bank have propelled the institution in taking lead in financial inclusion and economic development of Pakistan.
“The launch of Masterpass QR digital payment service cements UBL's role as the leading provider of technology based financial solutions for its customers."