Title: Euronet Pakistan Chosen by United Bank Limited (UBL) for Credit Card Processing and POS Driving
Summary: Euronet Pakistan, a division of Euronet Worldwide (NASDAQ: EEFT), has secured a pivotal partnership with United Bank Limited (UBL) for credit card processing and POS driving services. Under this collaboration, UBL’s credit cards and POS terminals will migrate to Euronet’s PCI-compliant infrastructure, offering consolidated card management, tokenization, and acquiring services. The agreement, signed by senior executives of both organizations, aims to enhance customer experiences and drive innovation in Pakistan’s financial landscape.
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In a significant development for Pakistan’s financial sector, Euronet Pakistan, a division of Euronet Worldwide (NASDAQ: EEFT), has been selected by United Bank Limited (UBL) for credit card processing and POS driving services.
The partnership entails the migration of all UBL credit cards and POS terminals onto Euronet’s PCI-compliant application and infrastructure, operating within Pakistan’s data center facilities. This move is part of a fully outsourced and managed services model, promising consolidated card management suite, card tokenization, and acquiring services. The collaboration also guarantees service levels and processing uptimes crucial for scaling and optimizing UBL’s business propositions.
The signing ceremony, attended by senior management representatives from both organizations, saw the agreement formalized between Mr. Muhammad Anas, Head of Consumer Banking at UBL, and Mr. Kashif Gaya, CEO of Euronet Pakistan. Notable figures present included Mr. Sohail Awan, CIO at UBL, and Mr. Sharjeel Shahid, Group Executive Digital Banking.
Expressing his satisfaction with the partnership, Mr. Muhammad Anas highlighted the potential of the collaboration to enhance user experiences and drive innovation in Pakistan’s financial services market. He emphasized UBL’s commitment to delivering streamlined, secure, and innovative card and payment solutions to its customers.
Mr. Kashif Gaya, CEO of Euronet Pakistan, echoed these sentiments, expressing excitement about being chosen by UBL, one of Pakistan’s largest banks, for card issuance and acquiring processing. He emphasized Euronet’s dedication to leveraging global expertise and innovative solutions to deliver exceptional service and reliability to UBL and its customers.
The partnership between Euronet Pakistan and UBL marks a significant milestone in Pakistan’s financial landscape, promising enhanced offerings and improved customer experiences in the realm of card issuance, acceptance, and payments processing.
