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LAHORE: The Punjab Central Business District Development Authority (PCBDDA) and MasterCard have signed a strategic MoU to turn the community into a cashless economic zone and drive digital transformation in the country.

The collaboration will see MasterCard deploy its innovative smart city solutions in the Central Business District Punjab, as the Preferred Payments Partner to enable investors, businesses, residents, and authorities to connect simply and seamlessly through digital channels.

Citizens will be able to make everyday payments as well as pay for bills and utility services through automated portals. Through the partnership, PCBDDA will achieve efficiencies across its various processes, including fee collection and other administrative services. The authority intends to develop and promote environment-friendly urban regeneration projects on vertical principles.

MasterCard will support PCBDDA in achieving this vision and establish a cashless framework within the community’s blueprint. Speaking at the signing ceremony, Selim Ergoz, Senior Vice President, Government Engagement, Eastern Europe, Middle East and Africa, MasterCard, said: “As Pakistan embraces the power of digital payments, MasterCard is committed to driving digital transformation in the country through strategic public-private partnerships. We are working with the government across various sectors to digitize the nation’s economic infrastructure and offer communities a seamless smart city experience. The collaboration with PCBDDA is a milestone moment in this journey as we look to create a fully cashless community that offers convenience, simplicity, and security.”

Imran Amin, CEO, PCBDDA, said: “MasterCard has a stellar track record of supporting cashless communities in several economic hubs around the world. We value the expertise that they will bring as we look to power PCBDDA with the flexibility and safety of smart economic solutions. The collaboration is a testament to Pakistan’s progress as a growing digital hub in the Middle East and North Africa region.”

The event was also attended by Fazeel Asif Jah, Chairman PCBDDA Board, Brig Mansoor Janjua, COO, PCBDDA, Mohammed Omer, Executive Director Commercial, PCBDDA, Ali Waqar Shah, Director Business Development, PCBDDA, Arslan Khan, Vice President, Country Business Manager, Pakistan, MasterCard, Ali Saqib, Director Business Development, MasterCard. Both parties acknowledged the contribution of Imran Amin, CEO PCBDDA, Habban Subhani, Executive Director Finance, PCBDDA and S M Omer, Deputy Director Finance, PCBDDA in arranging this collaboration.

Copyright Business Recorder, 2023

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