Aurangzeb, Mastercard team discuss digital payments, financial inclusion
ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with a delegation of Mastercard led by Mark Elliott, Division President, East Arabia, to discuss opportunities for strengthening cooperation in digital payments, financial inclusion and cybersecurity, in line with Pakistan’s ongoing efforts to promote a cashless economy. The Finance Minister appreciated…
Federal Finance Minister Senator Muhammad Aurangzeb convened a meeting with Mark Elliott, Mastercard's Division President for East Arabia, to explore potential collaboration in digital payments, financial inclusion, and cybersecurity. This discussion aligns with Pakistan's ongoing efforts to promote a cashless economy. Aurangzeb lauded Mastercard's ongoing support of the country's financial sector and its commitment to digital transformation.
He stressed the government's dedication to enhancing digital payments, broadening access to financial services, and promoting efficiency and transparency across the nation. Aurangzeb emphasized the significance of the Prime Minister's cashless economy initiative and highlighted the pivotal role of digital financial solutions in uplifting agriculture, small and medium enterprises, and other economically disadvantaged groups.
He recognized that broadening digital financial services' reach is crucial for achieving greater financial inclusion. The meeting also addressed possibilities for enhancing cross-border remittances, fortifying digital payment infrastructure, and bolstering cybersecurity. Aurangzeb stressed that cybersecurity and fraud prevention must be at the forefront of constructing a secure and robust digital financial ecosystem.
Elliott reiterated Mastercard's enduring commitment to Pakistan and expressed interest in utilizing the company's global expertise and technological resources to aid Pakistan's digital transformation. He outlined avenues for additional collaboration in digital payment acceptance, financial inclusion, remittances, and cybersecurity.
The Finance Minister expressed appreciation for Mastercard's continued interest and investment in Pakistan, reaffirming the government's commitment to fostering innovation and strengthening public-private partnerships. Both parties affirmed their dedication to maintaining close interaction and investigating practical collaboration opportunities to bolster Pakistan's digital economy.
The Mastercard delegation comprised Arslan Khan, Country Manager for Pakistan and Afghanistan, and Jibran Jamshad, Director of Public Sector for Pakistan and Afghanistan.
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