PayPak–Mastercard’s cooperation: FBL launches Pakistan’s first co-badge debit card

KARACHI: Faysal Bank Limited (FBL), in partnership with PayPak and Mastercard, has unveiled Pakistan’s first PayPak-Mastercard Co-Badge Debit Card, a landmark development for the country’s payments ecosystem.

The new card brings together the global acceptance and security of Mastercard with the reliability and cost-efficiency of PayPak, supporting the State Bank of Pakistan’s (SBP) vision of a robust and self-reliant domestic payments infrastructure.

The event was attended by the Governor State Bank of Pakistan, Jameel Ahmad as Chief guest along with Saleem Ullah Deputy Governor State Bank, representatives of Faysal Bank Limited, PayPak, MasterCard & Euronet, highlighting the strategic importance of this collaboration in shaping Pakistan’s digital payments future.

Speaking at the ceremony, Yousaf Hussain, President & CEO of Faysal Bank, said that the launch underscores Faysal Bank’s commitment to advancing digital transformation and financial inclusion by offering customers seamless payment capabilities at home and abroad. Powered by PayPak’s homegrown infrastructure and Mastercard’s international network, the co-badge card provides secure, interoperable, and globally connected payment options, he added.

He said that Faysal Bank feels honored to pave the way for fostering digital payments in Pakistan by launching PayPak Mastercard Co-Badge Debit Card at Faysal Bank, that marks the next chapter in Pakistan’s payments evolution.

This is another industry first product similar to Faysal Bank’s flagship Noor card, the only Shariah-compliant credit card available in the market, he added.

Copyright Business Recorder, 2025