NBP to Launch Union Pay Debit, Prepaid Cards in Pakistan

National Bank of Pakistan (NBP) has plans to launch Union Pay branded Debit and Prepaid (debit) Cards allowing its customers to conduct transactions at over 35 million merchants globally as well as 2 million ATMs worldwide and 10 million online sites.

Union Pay is focusing Pakistan’s market in line with the possible opportunities of business with the development of Chine-Pakistan Economic Corridor. Pakistan is also the first market outside mainland China that has launched UnionPaym POS service in the country.


NBP and Union Pay officials at the signing ceremony

In this regard, a signing ceremony was held between National Bank of Pakistan and UnionPay International, during the mega conference of Silk Road Forum in Urumqi, China, between National Bank of Pakistan (NBP) and Union Pay International (UPI).

Syed Ahmed Iqbal Ashraf stated that National Bank envisions multiple opportunities to promote financial inclusion through new technologies, and through that; drive inclusive and sustainable growth of economy.

NBP now aims to develop an Eco-system in collaboration with all market players to deliver financial products, especially P2G & G2P services, he added.

On the occasion, GeHuayong, Chairman of China UnionPay said, “the implementation of the Belt and Road Initiative has substantially promoted UnionPay’s expansion in Pakistan. First, UnionPay’s acceptance scope is expanding rapidly, meeting the payment demand of UnionPay cardholders visiting the market.

“UnionPay is accelerating its localization in Pakistan. In the future, we will deepen our cooperation with National Bank of Pakistan to optimize our service system and to provide more payment convenience for the personnel exchanges between China and Pakistan”, he added.

Talking at the forum, Mudassir H. Khan SEVP/ Group Chief CRBG of NBP, said “The Digital Financial Services industry in Pakistan started its actual journey back in 2009 and has now reached a stage where it needs to be taken to the next level. NBP is playing the key role to bring the major stakeholders in partnership including Telcos, Banks and Government Institutions; by setting the goal of financial inclusion in its true sense and create the right environment for inclusive growth in the country”.

  • Are you not aware that HBL already providing these card, my uncle had this since April.

    Propakistani is late in this news.

  • NBP pehle apni branches tpu computerized kar le, phir karey yeh chonchlay baazi. Branches mai wohi pichli sadi wala token system chal raha hai aur aye hain unionpay card dene.

  • union pay ia a big deal here in china if u guys dont know.. having a logo of UP on your credit or debit card means you can use it internationally on any ATM that supports most famous brands like visa and master and Union Pay is one of them,, dont just think what you can do with it in Pakistan,,
    convincing shops and Shopping centres to accept Union Pay POS is a different story but thats not new in PAkisatan,, not many of us use our debit cards for payments of shopping groceries or other small stuff anyway

  • Unionpay only works on HBL and Bank AlFalah ATMs not on any other switches while visa and master card can be used on any ATM or POS without any hassle.

  • Ltd feature videos

    Watch more at LTD