Mashreq Pakistan becomes the inaugural digital bank on 1LINK’s platform, heralding a new era of seamless financial services in Pakistan.
In a groundbreaking development for Pakistan’s banking landscape, Mashreq Pakistan proudly announces its strategic collaboration with 1LINK, the nation’s foremost switch and payment services provider. This landmark partnership positions Mashreq as the premier digital banking entity integrated into 1LINK’s extensive network, marking a significant leap forward in revolutionizing the digital banking experience across the country.
With this alliance, Mashreq Pakistan gains access to a vast array of services offered by 1LINK, including over 18,000 ATMs for hassle-free fund withdrawals, near real-time funds transfers to more than 40 member entities, and the introduction of the convenient 1Bill service for payments to over 2,500 billing entities encompassing educational institutions, public utilities, and government collections. Moreover, Mashreq will now have the capability to issue PayPak debit cards, enhancing its offerings to customers.
Expressing his enthusiasm regarding the partnership, Muhammad Hamayun Sajjad, Chief Executive Officer of Mashreq Pakistan, emphasized the institution’s commitment to pioneering digital banking solutions. He underscored Mashreq’s dedication to leveraging cutting-edge technology, seamless customer experiences, and responsible banking practices to catalyze Pakistan’s economic growth and foster financial inclusion.
Mashreq Pakistan’s momentum towards digital banking excellence is further underscored by its pursuit of a restricted license from the State Bank of Pakistan to commence pilot digital retail banking operations. This milestone represents a pivotal step in Mashreq’s journey towards obtaining a full banking license and aligns with its overarching strategic vision to emerge as a digital banking leader both domestically and internationally. The In-Principal-Approval (IPA) received last year stands as a testament to Mashreq’s unwavering commitment to introducing innovative digital banking solutions in harmony with Pakistan’s vision of a digitally empowered economy.
As Mashreq Pakistan pioneers the convergence of technology and banking services, it sets a precedent for the future of financial services in Pakistan, promising enhanced convenience, accessibility, and efficiency for customers nationwide.
