HBL Microfinance Bank, 1LINK and Euronet Pakistan have signed an agreement to introduce Pakistan’s first PayPak Credit Card. Through the partnership, HBL MfB will become PayPak’s inaugural credit card partner.
The organisations signed the agreement in Islamabad on September 29. Together, they aim to expand credit access for microfinance customers across Pakistan.
Four card variants planned
HBL MfB will issue the cards and lead the customer offering. Meanwhile, 1LINK will provide the PayPak payment scheme. Euronet will supply the processing platform and implementation support.
The bank plans four variants: Green, Standard, Pink and Edge. In addition, its broader plans include conventional and Islamic PayPak Credit Card offerings.
Read More: Visa and Mastercard May Face New Challenge From PayPak
These products aim to give customers more flexibility in meeting livelihood needs. However, the announcement did not specify an availability date, eligibility criteria, credit limits or charges.
PayPak operates as Pakistan’s domestic payment scheme under 1LINK. It launched under the State Bank of Pakistan’s auspices to promote financial inclusion and digitisation.
The planned credit card programme would therefore extend the scheme’s role in serving customers through domestic payment infrastructure.
Bank targets underserved customers
HBL MfB President and CEO Amir Khan signed the agreement for the bank. Similarly, 1LINK CEO Najeeb Agrawalla and Euronet CEO Kashif Gaya signed for their organisations.
Khan linked the initiative to responsible borrowing and wider financial access.
“At HBL Microfinance Bank, we see access to finance as a way to help customers move forward with confidence.”
He also highlighted the practical benefits the bank hopes to deliver.
“This partnership aims to give microfinance customers greater choice, flexibility and convenience in how they access credit and make payments.”
According to Khan, conventional banking products have traditionally underserved the customers the initiative seeks to reach. As a result, the partnership aims to combine wider access with support for livelihood needs.
“This initiative will help support our customers’ livelihood needs while promoting responsible borrowing and greater financial inclusion.”
The bank described the planned product as Pakistan’s first credit card offering for the microfinance sector.
Partners highlight local payment capabilities
Meanwhile, Agrawalla said the agreement reflected the strength of Pakistan’s domestic payment infrastructure.
“This milestone reflects the strength of our domestic payment infrastructure and our commitment to delivering secure, convenient and locally powered payment solutions.”
Read More: New UK Visa Rules Are Coming: What Applicants Must Know
He also described the partnership as a step towards a more inclusive, locally driven digital payments ecosystem.
For its part, Euronet will contribute processing expertise and technology support to bring the programme to market.
“We are pleased to partner with HBL Microfinance Bank and 1LINK in bringing this significant program to market,” Gaya said.
He also congratulated the bank on becoming PayPak’s inaugural credit card partner.
Together, the partners intend to combine microfinance customer reach, domestic payment infrastructure and processing technology. However, customers will need further product announcements for details about applications, pricing and availability.
