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Standard Chartered Bank and Mastercard sign MoU to accelerate payment innovation in Pakistan

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Standard Chartered Bank Pakistan Ltd. and Mastercard have signed an exclusive strategic partnership to accelerate payment innovation in Pakistan. This partnership is expected to expand the Bank’s existing offerings and fuel the growth of the digital payment landscape across the country. Building on a long-standing partnership, Mastercard has once again become the preferred and exclusive partner for Standard Chartered for all consumer and commercial debit and credit portfolios.

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The collaboration also includes the launch of Mastercard’s World and World Elite cards, targeted at ultra-high-net-worth individuals (UHNWI), offering priceless lifestyle and travel benefits and experiences. These include access to select luxury experiences, shopping opportunities in cities around the world, discounted car rental and chauffeur services, complimentary nights at select hotels and resorts, as well as access to premium airline services. Saadya Riaz, Head CPBB, Standard Chartered Pakistan said, “Our partnership with Mastercard reflects our commitment to offering our customers – best in class products and solutions with value-added benefits and a differentiated, digital-first client experience.”

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Andrew Pugh, Vice President, and Head of Global Key Account Management, EEMEA, at Mastercard said, “We are delighted to extend our long-standing partnership with Standard Chartered. It is only through forging strategic collaborations like these that we can achieve sustainable and inclusive growth, building a more connected ecosystem and thriving world beyond cash, where everyone has equal access to a better life.”

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Strengthening the collaboration with Standard Chartered further underscores Mastercard’s commitment to helping financial institutions diversify their payments’ solutions portfolio. Such efforts fall in line with Mastercard’s global pledge to bring a total of 1 billion people and 50 million micro and small businesses into the digital economy by 2025. With investments in new and secure products that cater to the needs of a cross-section of consumers, Mastercard continues to make steady strides in fostering a robust cashless economy. Together, Standard Chartered Bank and Mastercard are committed to responding to changing consumer behaviour by offering the Bank’s customers the latest in payments’ innovations and bringing to them a market-leading portfolio of products and propositions that make everyday purchases secure, seamless and rewarding.

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