Bank Alfalah Partners with UPI to Launch Co-Badge PayPak Debit Cards

ISLAMABAD: Bank Alfalah Limited, one of the largest commercial banks in Pakistan, has announced a strategic partnership with UnionPay International to issue PayPak co-badge debit cards in Pakistan. This is the industry’s first UnionPay co-badge platinum debit card, providing customers with unparalleled value and access to a wide range of exclusive international privileges in 183 countries & regions through UnionPay’s extensive global payment network.
The signing ceremony took place in Istanbul, Turkey, where Atif Bajwa, President and CEO of Bank Alfalah, and James Yang, General Manager of UnionPay International, signed the agreement.
In presence were Mehreen Ahmed, Group Head of Retail Banking, Syed Muhammad Asif, Head of Consumer Finance, Muhammad Qasim Rashid, Head of Unsecured Products, and Abid Malik, Head of Unsecured Product Management, all from Bank Alfalah. Joining them from UnionPay International were Nadeem Haroon, Country Manager for Pakistan, and Ali Abbas, Business Development Manager.
Mehreen Ahmed, Group Head of Retail Banking, at Bank Alfalah, expressed her vision about the partnership: “We are delighted to collaborate with UnionPay International to bring PayPak co-badge debit cards to our customers. This partnership opens doors for our cardholders to do international transactions globally. With the introduction of the UPI/PayPak co-badge Platinum Debit Card, we are setting a new benchmark in the industry, offering our customers greater convenience and financial freedom.”
James Yang, General Manager Middle East of UnionPay International, commented on the partnership: “This collaboration with Bank Alfalah represents a significant step forward in our mission to enhance financial accessibility and convenience for consumers. The introduction of the UPI/PayPak co-badge Platinum Debit Card enables customers to enjoy seamless international transactions, bringing the world closer to our cardholders in Pakistan. We are committed to working closely with Bank Alfalah to deliver cutting-edge solutions that meet the evolving needs of the market.”
The State Bank of Pakistan (SBP) encourages Banks to introduce co-badge cards for cardholders. The partnership with UnionPay International highlights SBP’s vision and Bank Alfalah’s dedication to expanding its product offerings and enhancing customer experience. By leveraging UnionPay’s robust global payment network, Bank Alfalah aims to empower its customers with greater financial flexibility and access to a wide range of services beyond Pakistan’s borders, reinforcing the bank’s position as a leader in the financial services sector.