Allied Bank Limited (ABL), UnionPay International (UPI), and Paysys Labs have joined hands to enhance digital payment security and convenience through tokenization technology in Pakistan.
This strategic partnership aims to empower Allied Bank customers with secure and seamless Mobile Tap-and-Pay transactions using their UnionPay-PayPak Co-Badge Debit Cards.
As one of the largest issuer of UPI-PayPak Co-Badge debit cards in Pakistan, Allied Bank’s customers, through this partnership, can use this facility for Mobile Tap-and-Pay transactions, providing a seamless, secure, and contactless payment experience.
The tokenization technology safeguards sensitive cardholder information by replacing it with unique tokens, offering an additional layer of security for digital transactions.
The launch ceremony took place at the Paysys Labs Head Office in Karachi, bringing together senior executives from all three organizations to celebrate this significant milestone.
Speaking at the event, Mr. Muhammad Kamran Zeb, Group Head Cards & Acquiring Business at Allied Bank Limited remarked, “This partnership marks a pivotal step forward in Pakistan’s digital payment ecosystem. By adopting tokenization technology, Allied Bank reaffirms its commitment to innovation and customer-centric solutions.”
Mr. Nadeem Haroon, Country Head UPI Pakistan also highlighted, “UnionPay International is proud to support Pakistan’s digital transformation journey. With HCE tokenization technology, we are enabling a safer and more efficient payment environment for customers.”
Mr. Karim Jindani, CEO Paysys added, “At Paysys Labs, we are dedicated to empowering digital payment systems with the latest technologies. This collaboration will elevate the payment experience for users while ensuring the highest standards of security.”
About Allied Bank
Allied Bank Limited (ABL) is one of Pakistan’s leading financial institutions, with a robust network of 1,500+ online branches and 1,650 ATMs across the country. ABL offers a wide range of technology-driven products and services to its diverse customer base. Visit ABL’s website.
About Paysys Labs
Paysys Labs is a leading payment technology provider based in Pakistan, offering a comprehensive suite of solutions including digital payment systems, mobile wallets, and other innovative financial technologies. Paysys is dedicated to delivering secure and advanced payment solutions that enhance transaction speed, reliability, and security.
By leveraging the latest advancements in payment technology, Paysys Labs empowers businesses of all sizes to manage financial transactions seamlessly and efficiently.
With a strong focus on customer satisfaction, it plays a key role in shaping Pakistan’s digital payment ecosystem through innovations like tokenization, mobile payments, and contactless technology.
For more information, visit https://www.paysyslabs.com/
About UnionPay International (UPI)
UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 2600 institutions worldwide, UnionPay International has enabled card acceptance in 183 countries and regions with issuance in 84 countries and regions.
UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.
For more information, visit https://www.unionpayintl.com/en/