HBL Microfinance Bank, 1LINK & Euronet Sign Agreement to Launch Pakistan’s first PayPak Credit Card

HBL Microfinance Bank, 1LINK and Euronet have joined forces to launch Pakistan's first PayPak Credit Card. Mr. Amir Khan, President & CEO of HBL Microfinance Bank, Mr. Najeeb Agrawalla, CEO of 1LINK, and Mr. Kashif Gaya, CEO of Euronet, signed the agreement.

HBL Microfinance Bank will issue the PayPak Credit Cards and lead the customer proposition, while 1LINK will provide the payment scheme and Euronet will offer card processing technology and support. The bank plans to issue the PayPak Credit Card in four variants: Green, Standard, Pink and Edge, catering to different customer needs.

This partnership aims to expand access to innovative credit solutions for microfinance customers across Pakistan, with HBL Microfinance Bank emphasizing its commitment to responsible financial solutions. The initiative will enhance microfinance customers' choice, flexibility and convenience in accessing credit and making payments.

Mr. Agrawalla highlighted the strength of Pakistan's domestic payment infrastructure and the company's commitment to secure, convenient and locally powered payment solutions. Mr. Gaya praised the partnership, applauding HBL Microfinance Bank as the inaugural credit card partner and 1LINK for providing the payment scheme.

The collaboration combines HBL Microfinance Bank's reach in microfinance, PayPak's domestic payment network and Euronet's technology capabilities to bring a new locally powered credit card proposition to Pakistan.