KARACHI: The State Bank of Pakistan (SBP) has notified 1LINK (Private) Limited as a Designated Payment System (DPS) under Section 4(1) of the Payment Systems and Electronic Funds Transfer Act, 2007.
The designation underscores the pivotal role of 1LINK in the country’s digital financial ecosystem, where it has been tasked with ensuring the stability, security, and interoperability of electronic payment infrastructure.
With its new status, 1LINK will continue to collaborate with the SBP, financial institutions, and fintech companies to bolster consumer trust and accelerate the shift toward a more inclusive, digitally connected economy. The DPS recognition also places greater responsibility on the company to maintain resilience in payments while pursuing innovation and business expansion.
Owned by a consortium of 11 banks, 1LINK is Pakistan’s first Payment System Operator or a Payment Service Provider (PSO/PSP) and now the first entity to be designated as a DPS. It operates as the country’s largest payment switch, offering services including ATM switching, the 1BILL billing platform, Inter-Bank Funds Transfer, fraud risk management, switch dispute resolution, PayPak (domestic payment scheme), international payment connectivity, and the Sohni Dharti remittance program.
Copyright Business Recorder, 2025
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