Cashless Economy: Mastercard and Bank of Punjab Deepen Partnership to Accelerate Pakistan’s Digital Payments
The expanded collaboration will promote financial inclusion, contactless payments, digital government services, transit solutions and cross-border remittances across Pakistan.
Senior leaders from Mastercard and The Bank of Punjab meet in Karachi to strengthen their partnership on Pakistan's digital payments ecosystem.
Cashless Economy efforts in Pakistan received a fresh boost as Mastercard and The Bank of Punjab (BOP) expanded their strategic partnership to accelerate digital payments, strengthen financial inclusion and support the country’s transition to a digitally connected economy.
Senior executives from both organisations met in Karachi to reaffirm their long-standing collaboration and explore new opportunities in digital banking, government disbursements, transit payments and cross-border remittances.
The Mastercard delegation was led by Ailish Campbell, Executive Vice President – Public Sector, alongside Arslan Khan, Country Manager for Pakistan, and Jibran Jamshad, Director of Business Development. The BOP delegation was headed by President and CEO Zafar Masud, with senior executives responsible for digital banking, strategy, treasury and card services.
During the meeting, both organisations agreed to strengthen cooperation in expanding secure digital payment solutions across consumers, merchants, businesses and public institutions. Discussions focused on increasing the adoption of card-based payments, e-commerce, contactless transactions and next-generation payment technologies to reduce reliance on cash.
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The two sides also reviewed their collaboration in supporting the Government of Punjab’s flagship financial inclusion programmes. Mastercard-enabled CM Punjab Asaan Karobar Card, CM Punjab Kissan Card and CM Punjab Livestock Card, issued by BOP, have improved access to transparent and secure financing for entrepreneurs, farmers and livestock owners across the province.
BOP also highlighted its successful implementation of the Ramzan Nigehban Programme, which distributed financial assistance through Mastercard-enabled debit cards. The initiative demonstrated how digital payment systems can improve transparency, operational efficiency and the overall beneficiary experience while reducing dependence on cash-based disbursements.
The partnership also extends to modernising public transportation across Punjab. Mastercard and BOP are collaborating on the digitisation of one of Pakistan’s largest transit payment programmes, covering 13 cities across the province. The initiative will allow commuters to make seamless contactless fare payments using bank-issued cards and supports the country’s broader vision of developing integrated, cashless transport systems.
In addition, both organisations explored opportunities to strengthen cross-border payments and remittance services by combining Mastercard’s global payment network with BOP’s expanding international banking capabilities. The initiative aims to make money transfers faster, more accessible and more convenient for overseas Pakistanis and their families.
Speaking after the meeting, Zafar Masud, President and CEO of BOP, said the partnership had already demonstrated the transformative impact of digital payments on financial inclusion, public service delivery and economic development.
“Our collaboration with Mastercard has enabled some of Punjab’s largest digital financing and social support initiatives,” Masud said. “We see significant opportunities to further modernise payment infrastructure, strengthen remittance ecosystems and deliver innovative financial solutions that benefit citizens, businesses and governments.”
Ailish Campbell, Executive Vice President – Public Sector at Mastercard, said Pakistan is making significant progress in shaping the future of digital payments.
“Mastercard is proud to partner with BOP to advance Pakistan’s digital transformation,” she said. “By combining our global expertise and secure payment technologies with strong public-sector partnerships, we can help build a resilient and inclusive digital economy where everyone can thrive.”
The expanded alliance reinforces the shared commitment of Mastercard and BOP to accelerating Pakistan’s digital transformation through secure, innovative and inclusive financial services.
