Mon. May 27th, 2024
Bank of PunjabBank of Punjab

Bank of Punjab

Mastercard and the Bank of Punjab (BOP) have extended their partnership to cowl the business segment, ranging from massive company entities and Small and Medium Enterprises (SME) to freelancer and gig workers.

BOP will grow to be the first financial institution in Pakistan to trouble Mastercard 

imparting a vary of options designed to cater to the country’s 5.2 million-strong SME market. BoP has additionally launched the first Foreign Currency Business Debit Card, enabling greater than 2.5 million freelancers to digitize their payments. By facilitating a shift from money to digital payments, BOP is now not solely revolutionizing the SME sector, however additionally merchandising monetary inclusion in Pakistan’s burgeoning gig economy.

The prolonged partnership will additionally see the introduction of the Mastercard Corporate Card, which will provide large agencies a customized, bendy and tightly closed digital charge solution to manipulate employees’ travel, amusement and procurement expenses, with a excessive stage of rate visibility. This will allow Corporates to manipulate repayments extra successfully and decrease friction in making B2B payments.

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The Bank of Punjab FAQ

How many employees does The Bank of Punjab have?

5001-10000

Where is The Bank of Punjab headquarters located?

Lahore, Pakistan

What is The Bank of Punjab known for?

Banking

“Building on a market legacy that spans over two decades,

 Mastercard collaborates with our companions to speed up Pakistan’s digital transformation, force monetary inclusion and gasoline its economy. In line with our pledge to convey 50 million SMEs global into the digital financial system with the aid of 2025, we are harnessing the strength of our science to assist groups of all sizes pay and get paid. The enlargement of our partnership with BOP marks a transformative step in modernizing fee techniques and making them extensively handy to Pakistan’s organizations and folks alike,” stated Arslan Khan, Vice President and Country Business Manager, Pakistan, Mastercard.

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“We are proud to task into the SME house with Mastercard. In Pakistan, this section used to be formerly generally neglected, whereas freelancers confronted boundaries to entry. Extended savings to SME phase is a pinnacle precedence for BOP, and triumphing PBA’s Best Bank for SME Awards twice and Best SME Bank Award through Asia Money is a testomony to our ambition. Similarly, we are aggressively advertising our Freelancer presenting enabling younger IT specialists carry their overseas profits returned domestic conveniently. Our prolonged collaboration will allow us to handle the money flows challenges being confronted by way of SMEs and grant seamless charge offerings for the nation’s businesses,” stated Nofel Daud,

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Group Head Strategy and Strategic Initiatives, BOP.

Mastercard and BOP have loved a long-standing productive partnership. Most recently, the two leaders launched a freelancer digital account and card, catering to the wishes of gig people in the IT sector, in collaboration with the Pakistan Software Export Board.

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About Mastercard (NYSE: MA)

Mastercard is a international science corporation in the repayments industry. Our mission is to join and strength an inclusive, digital economic system that advantages everyone, in all places by way of making transactions safe, simple, clever and accessible. Using impervious statistics and networks, partnerships and passion, our improvements and options assist individuals, monetary institutions, governments and agencies realise their biggest potential. Our decency quotient, or DQ, drives our subculture and the whole lot we do internal and outdoor of our company. With connections throughout greater than 210 nations and territories, we are constructing a sustainable world that unlocks beneficial probabilities for all.

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