KARACHI: Bank Alfalah has launched first PayPak classic debit card
in an effort towards digitising the financial landscape of the country and
promoting financial inclusion through diversified initiatives, a statement said
on Wednesday.
PayPak
is Pakistan’s first domestic payment scheme launched by 1Link (Guarantee)
Limited – aims at providing efficient, cost-effective, robust and ubiquitous
payment solutions, it added.
The
Alfalah PayPak classic debit card will allow customers to withdraw cash from
1Link’s ATM network of 8,000+ and conduct point of sale (POS) transactions at
thousands of merchants nationwide. The card offers PIN-based customer
authentication for ATMs as well as POS transactions.
“As
we share the financial inclusion goals with those posited in the State Bank of
Pakistan’s Vision 2020, our partnership with 1Link to introduce the country’s
first domestic payment scheme will provide low-cost payment services to every
citizen of Pakistan,” said Atif Bajwa, president of Bank Alfalah.
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