In continuation of its efforts toward digitizing the financial landscape of the country and promoting financial inclusion through diversified initiatives, Bank Alfalah, Pakistan’s leading card issuer and acquirer, has joined hands with 1Link (Guarantee) Limited to launch Bank’s first PayPak Classic Debit Card.
PayPak is Pakistan’s first Domestic Payment Scheme launched by 1Link (Guarantee) Limited and aims at providing efficient, cost-effective, robust and ubiquitous payment solutions.
The Alfalah PayPak Classic Debit Card will allow customers to withdraw cash from 1Link’s ATM network of 8,000+ and conduct 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 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 & CEO, Bank Alfalah.
We remain committed to our goal of revolutionizing Pakistan’s financial landscape, continuously striving to extend access of financial services to the underserved segments of our society.
whats paypak, no details
^^ like visa, master card, union pay
So nothing special to merit a special mention?
please update bank alfalah logo its 3 years old logo
Will PayPak work on amazon /aliexpress etc?
If not then useless
it’s a payment system for domestic transactions not something that can compete with visa and mastercard in the international arena.
It will be good for local market because most of the shops dont allow Visa/Master because of high percentage of deduction…so PayPak kind of local solutions will help to transform economy on paperless currency and cashless purchases.
nothing new….
meezan bank and bank islami are pure islami not this half islami and half non islami….
these islamic banks should be closed for financing terrorism
Can you explain how pure Islami? and what is the benefit of Islami if they give loans on high rates…and on the back end linked with State Bank of Pakistan that follows conventional banking system. It is just a name “Islami” to target specific mindset in country. Operations are same conventional banking system…but customer ends up paying high interest rate because it is branded as Islami.
at least steps to right direction…..will get pure with the passage of time
Using market rate is not “UnIslamic”. Islam allows to use prevailing market rates. For example 15% profits are held (at least) in all commodities by retailers. If one charges 15% profit then its Islamic (whether you consider it low or high) and if charges 25% profit then its unislamic.
Please raise question to clear your doubts at social media account of any Islamic bank and stop defaming Islamic banks without knowledge of how they work.
Lol
We want PayPal
need paypal in our country, there are 198 countries in the world and the total of 197 countries have paypal available in them.
Allied Bank launched it first :(
https://uploads.disquscdn.com/images/cd4be8db7ebedffdf34142aad40d71f40611cde3cc2ccffa4b0cc3b93bcd0125.jpg
How is this different from HBL debit card or any other debit card. Those too can be used for POS transactions. big deal??