U Microfinance Bank and 1LINK have signed a partnership agreement that will allow U Microfinance Bank to issue PayPak enabled debit cards for its account holders in Pakistan.
PayPak is Pakistan’s first domestic payment scheme. The agreement is a step forward in promoting financial digitalization in Pakistan in line with State Bank of Pakistan’s National Financial Inclusion Strategy 2020. Both companies believe that combining the strength of 1LINK (PayPak) and U Microfinance bank brings them closer to this vision.
The agreement was signed by Mr. Kabeer Naqvi – Chief Operating Officer U Microfinance Bank and Mr. Najeeb Agrawalla – CEO 1LINK.
Mr. Naqvi speaking on the occasion reiterated U Microfinance Bank’s commitment towards bringing unbanked population in the banking net. He also emphasized the need for financially educating the customer regarding the benefits of banking, which can play a pivotal role in Pakistan’s development and prosperity.
Mr. Agrawalla shared his enthusiasm at being a platform that is keen to bring homegrown payment system to Pakistani market while facilitating national goals.