Askari Bank Limited and UnionPay International Sign Agreement for NFC & EMV Debit Card IssuanceJune 13, 2017
SHANGHAI, June 13, 2017 /PRNewswire/ — Askari Bank Limited (AKBL),Pakistan’s premier banking institution and UnionPay International, one of the world’s largest payment schemes, has entered into an agreement to issue UnionPay QuickPass (NFC) and EMV Chip Cards in Pakistan. The initiative will allow AKBL customers to enjoy convenience of contactless payments “TAP & GO” while keeping the payments safe and secure. Further, the agreement would allow AKBL customers to conduct transactions at 41 million merchants and over 2 million ATMs worldwide along with 10 million online merchant sites.
The partnership was signed by Mr. Farrukh Iqbal Khan, Group Head Operations, Askari Bank Limited Pakistan and Mr. Han Wang, General Manager, UnionPay International Middle East in Shanghai, China in the presence of Mr. Larry Wang, Chief Business Development Officer of UnionPay International, Mr. Asim Bashir-Country Head Branchless Banking & ADCs of AKBL.
“Askari Bank has always been at the forefront in re-shaping and re-defining financial services landscape and signing agreement with UnionPay International for QuickPass (NFC) and EMV chip card issuance is yet another step”, said Farrukh Iqbal Khan, Group Head Operations, Askari Bank Limited. He further added that the Askari Bank will take advantage of UnionPay successful best practices for financial inclusion in China while re-defining AKBL strategic plan for financial inclusion.
“We are excited to work with UnionPay in Pakistan. Askari Bank continues to focus on improving customer experience and providing greater convenience by continuing to introduce new and innovative products. ‘Tap & Go’ contactless payments will add further convenience for AKBL customers while keeping the payments safe and secure”, said Asim Bashir, Country Head Branchless Banking & ADC, Askari Bank Limited.
Mr. Larry Wang Chief Business Development Officer of UnionPay International, said, “We are glad to offer new payment options for Pakistanis together with AKBL. UnionPay have made quite an achievement in Pakistan these years. At present, 70% of ATMs and 95% of POS terminals in Pakistan accept UnionPay cards, and over 3.4 million UnionPay cards have been issued in the country. The launch of UnionPay innovative products like QuickPass and EMV chip cards here this time will further enhance our service capability for the local residents.”