Pakistan Telecommunication Company Limited (PTCL) has announced a strategic partnership with Mastercard to issue a new debit card through its fintech subsidiary, U Microfinance Bank (UBank), for the UPaisa mobile financial services platform.
The new UPaisa debit card, available in both physical and virtual formats, will enhance customer accessibility to over 120,000 POS in-store machines and more than 18,000 ATMs across Pakistan. Additionally, UPaisa customers can make online purchases with over 7,500 local merchants and utilize the card internationally at more than 100 million locations within the global Mastercard network.
Syed Atif Raza, CMO of PTCL and Ufone 4G, emphasized that the collaboration with Mastercard will offer UPaisa users enhanced security features and facilitate fast, convenient transactions. “This partnership is part of our ongoing efforts to expand our digital ecosystem and meet the digital and financial needs of our customers, while also promoting digital and financial inclusion to improve the socioeconomic wellbeing of more Pakistanis,” he stated.
Launched in 2013, UPaisa is a collaborative initiative between UBank and Ufone, designed to provide versatile financial solutions to its users.
