United Bank Limited, Pakistan's Best Bank 2016, won the 'Innovation Award' at the Mastercard Innovation Forum held in Budapest, Hungary. The Award recognizes UBL's "global first" achievement of launching UBL MasterPass QR.
Every year, Mas-tercard organises the Inno-vation Forum with invitees from around the world. The forum explores how Innovation changes lives and assesses the impact this transformation will have on the future. The Forum features interactive panel sessions, stimulating commentaries and hands-on demos. It connects over 500 decision-makers and industry experts from across the globe.
UBL recently launched the MasterPass QR digital payment service in partnership with Mastercard. As the country's first interoperable digital payment service, MasterPass QR al-lows consumers to use their mobile banking app to pay for in-store, bill payments (invoices) and for delivery with one secure account. The service is expected to benefit a large number of existing and potential customers with a fast, secure and convenient payment experience on UBL's mobile banking apps.
Mr Arif Sirhindi, Group Executive, Payment Services Group, UBL re-ceived the award on behalf of the Bank from Mr Rnghu Malhotra, President, Middle East and Africa, Mastercard.
On receiving the Award, Mr Sirhindi said, "UBL has been a leading finan-cial institution in Pakistan for the last five decades. The Bank's Progressive and Innovative identity has seen the Institution take lead in financial inclusion and economic development of the country. This Award further cements UBL's role as the leading provider of technology-based financial solutions for its customers."
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