Finance minister, Visa president discuss innovation in payments sector

Federal Minister for Finance and Revenue Muhammad Aurangzeb met Visa Group President Oliver Jenkyn in Davos on Wednesday to discuss innovation in digital payments and Pakistan’s transition toward a modern, digitally enabled economy, the Finance Division said in a statement.

The meeting took place on the sidelines of the World Economic Forum Annual Meeting, where both sides reviewed Pakistan’s evolving economic landscape and its engagement with global payment networks.

Jenkyn reaffirmed Visa’s long-term commitment to Pakistan, expressing strong interest in supporting the country’s next phase of growth through secure payment solutions, innovation and knowledge transfer.

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He highlighted the global shift toward digital payments and stressed the importance of policy clarity, openness and an enabling environment for scaling innovation.

Aurangzeb welcomed Visa’s continued engagement and said policy consistency and a clear reform roadmap were central to Pakistan’s economic strategy. He noted that the government was working to strengthen the digital ecosystem, including connectivity, financial infrastructure and regulatory frameworks, to encourage private sector participation.

The finance minister said collaboration between global payment networks and local solutions would play a key role in accelerating financial inclusion and digital adoption across the country.

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He also highlighted ongoing efforts to promote transparency, documentation of the economy and digitisation across sectors, adding that these reforms were creating new opportunities for trusted global partners. Aurangzeb said the establishment of dedicated digital and regulatory institutions reflected the government’s commitment to positioning Pakistan as a “Digital Nation.”

Jenkyn underscored the value of global platforms such as Visa in providing security standards, resilience and scalable solutions. He stressed the need for balanced cooperation between governments, regulators and the private sector, and said Visa was ready to share global best practices as financial technologies evolve.

Both sides agreed to remain closely engaged as digital finance continues to evolve globally and locally, expressing confidence that sustained collaboration would lead to practical, market-ready solutions in the coming years.