Euronet Pakistan, a division of Euronet Worldwide (NASDAQ: EEFT) and an industry leader in processing secure electronic financial transactions, has been selected by United Bank Limited (UBL) for Credit card processing & POS Driving.
Under this arrangement, all UBL Credit Cards & POS terminals will be migrated onto Euronet under a fully outsourced and managed services model.
The entire solution will be hosted on Euronet’s PCI-compliant application and infrastructure in its data center facilities in Pakistan and will offer consolidated card management suite, card tokenization, and acquiring services, with guaranteed service levels and processing uptimes that will help UBL to scale, optimize, and fast track the rollout of innovative business propositions.
The signing ceremony was attended by senior management of both organizations. The agreement was signed between Mr. Muhammad Anas, Head of Consumer Banking – UBL & Mr. Kashif Gaya, CEO Euronet Pakistan, in presence of Mr. Sohail Aziz, CIO UBL, Mr. Sharjeel Shahid, Group Executive Digital Banking and senior executives of both the organizations.
Speaking at the ceremony, Mr. Muhammad Anas remarked: “We are proud to announce this partnership with Euronet which will offer streamlined, secure, and innovative cards and payment solutions to the Pakistani market. We are confident that this initiative by UBL and Euronet will enhance the user experience for UBL customers while also laying the foundation for excellent customer experiences and fostering financial development in the region.”
Mr. Kashif Gaya, CEO of Euronet Pakistan, expressed his enthusiasm about the partnership, stating: “We are excited to be selected by UBL, one of the largest banks in Pakistan, as their Credit Card Issuance & Acquiring Processor. This partnership marks a significant leap towards revolutionizing the credit cards issuance, acceptance, and the payments framework in Pakistan. Leveraging our global expertise and innovative solutions, we are committed to delivering exceptional service and reliability to UBL and its customers.”
