ISLAMABAD: Master-card, Bank of Khyber (BOK), and LMK Resources Pakistan (Private) Limited (LMKR) have partnered to transform Peshawar’s mass transit system. Under the Mastercard Transit Partner Programme Agreement, this collaboration will advance Pakistan’s transit landscape and drive financial inclusion for the city’s residents.
The partnership empowers BOK and LMKR to leverage Mastercard’s expertise to enable the development and implementation of cutting-edge EMV® transit solutions. The solutions are set to redefine the travel experience by introducing an advanced open-loop payment method, effectively eliminating the need for conventional paper tickets. Commuters can enjoy a seamless experience, using their debit and credit cards to pay for bus fares, in line with Pakistan’s digital transformation goals.
“For over a decade, Mastercard has been at the forefront of shaping smart cities and urban mobility solutions as we engage in transformative transit projects across the globe. We are committed to introducing innovative digital solutions to enable faster, safer and more convenient payment experiences for the communities we serve.
Our alliance with Bank of Khyber and LMKR harnesses our global expertise, ensuring a seamless travel experience for Peshawar’s commuters through our renowned transit payment solutions,” said J K Khalil, Cluster General Manager, MENA East, Mastercard.
“At Bank of Khyber, we’re committed to enhancing the everyday experiences of our customers. This collaboration with Mastercard and LMKR marks a leap forward in that direction with introducing a smarter and more efficient way to travel.
With the combined expertise of our partners, we’re now turning this dream into reality. Our collective efforts aim to bring unmatched ease and convenience to daily commutes, while also building a system that promotes financial inclusivity for the people of Peshawar,” said Ali Gulfaraz, CEO & MD Bank of Khyber.
“At LMKR, our commitment is to reshape transit payments through innovative collaborations, envisioning a future where seamless contactless payment solutions redefine commuting convenience for all. This vision echoes in our dedication to enhancing connectivity, streamlining journeys, and elevating overall commuting experiences. Ultimately, this creates a more accessible, efficient, and interconnected transit landscape,” expressed Atif Rais Khan, CEO and Chairman of LMKR.
Copyright Business Recorder, 2023