Faysal Bank Limited (FBL), in partnership with PayPak and Mastercard, has unveiled Pakistan’s first PayPak–Mastercard co-badge debit card, a landmark development for the country’s payments ecosystem.
The new card brings together the global acceptance and security of Mastercard with the reliability and cost-efficiency of PayPak, supporting the State Bank of Pakistan’s (SBP) vision of a robust and self-reliant domestic payments infrastructure.
The launch underscores Faysal Bank’s commitment to advancing digital transformation and financial inclusion by offering customers seamless payment capabilities at home and abroad. Powered by PayPak’s homegrown infrastructure and Mastercard’s international network, the co-badge card provides secure, interoperable, and globally connected payment options.
The event was attended by the Governor State Bank of Pakistan, Jameel Ahmad as chief guest along with Saleem Ullah, Deputy Governor State Bank of Pakistan, and the senior leadership of Faysal Bank Limited, Paypak , MasterCard & Euronet, highlighting the strategic importance of this collaboration in shaping Pakistan’s digital payments future.
Jameel Ahmad expressed his views: “Today’s co-badging initiative is a step forward towards developing mutually beneficial partnerships between international and domestic payments schemes that can create better value for all stakeholders. I congratulate Faysal Bank, Mastercard, and 1Link on taking this initiative. SBP would continue to ensure a level playing field for all the payment system players, including the international payment schemes.”
Speaking at the ceremony, Yousaf Hussain, President & CEO of Faysal Bank, said: “We feel honoured to pave the way for fostering digital payments in Pakistan by launching PayPak Mastercard Co-Badge Debit Card at Faysal Bank, that marks the next chapter in Pakistan’s payments evolution. This is another industry first product similar to Faysal Bank’s flagship Noor card, the only Shariah-compliant credit card available in the market. This milestone reflects the growing strength of our domestic payments ecosystem, the value of collaboration between local institutions and global partners, our commitment as a bank and as a wider industry to provide customers with secure, modern, internationally accessible digital payment solutions as envisioned by the State Bank of Pakistan.”
