Mobilink Microfinance Bank Launches EMV-Compliant Visa Debit Cards

Building on a strong partnership, Mobilink Microfinance Bank Limited (MMBL) has collaborated with its trusted technology partner TPS to further enhance payment security and convenience for its customers.

MMBL leveraged the capabilities of TPS’ IRIS Payments Platform to issue EMV compliant Visa Debit Cards, meeting the evolving market needs and changing regulatory requirements.

The EMV compliant debit cards will be issued to both core banking and JazzCash mobile account customers, enabling them to benefit from the speed and security of EMV and reduce fraud. With Visa Debit Card, MMBL’s customers can conveniently make purchases anywhere within Pakistan without the need of carrying cash around.

With IRIS Payments Platform at the core, TPS has led EMV deployments from South Asia and Middle East to Europe and Africa, allowing banks and financial institutions across the world to be on par with the global EMV (Europay, MasterCard and Visa) and Payment Card Industry (PCI) standards.

Ghazanfar Azzam, President & CEO, Mobilink Microfinance Bank Limited, said:

As the digital payments industry is undergoing rapid progression, our customers are looking for more secure and convenient ways to make payments. As a customer centric bank, we have decided to roll out EMV compliant debit cards, making it easier for our customers to safely make their payments. We look forward to working with TPS to bring faster and safer payment technologies to the market.

Shahzad Shahid, CEO at TPS said,

“We are really happy to be the technology partner of MMBL which is a leader in the financial inclusion enabled through mobile wallets. The secure (chip) cards attached to the microfinance bank accounts and wallets will ensure customer’s protection from possible card fraud and shall build trust and confidence on the digital payment methods.”