HBL MfB, 1LINK and Euronet sign agreement for Pakistan’s first PayPak Credit Card
ISLAMABAD: HBL Microfinance Bank (HBL MfB), 1LINK (Pvt.) Limited and Euronet Pakistan have signed a landmark tripartite agreement to introduce Pakistan’s first PayPak Credit Card, with HBL Microfinance Bank becoming PayPak’s inaugural credit card partner.
The agreement was signed by HBL Microfinance Bank President and CEO Amir Khan, 1LINK CEO Najeeb Agrawalla and Euronet CEO Kashif Gaya.
Under the partnership, HBL Microfinance Bank will issue the PayPak Credit Cards and lead the customer proposition. 1LINK will provide the PayPak payment scheme, while Euronet will provide the card processing technology platform and implementation support.
HBL Microfinance Bank plans to introduce the PayPak Credit Card across all four variants: Green, Standard, Pink and Edge. The variants are designed to provide customers with greater choice and flexibility in meeting their livelihood needs.
The initiative is part of the bank’s broader plans to introduce both conventional and Islamic PayPak Credit Card offerings, expanding access to innovative credit solutions for microfinance customers across Pakistan.
“At HBL Microfinance Bank, we see access to finance as a way to help customers move forward with confidence,” Amir Khan said. “As part of our commitment to expanding access to responsible and innovative financial solutions, we are proud to introduce the microfinance sector’s first credit card offering in Pakistan.”
He said the partnership aimed to give microfinance customers greater choice, flexibility and convenience in how they access credit and make payments. “By combining our customer reach with PayPak’s domestic network and Euronet’s technology, we are pioneering a new chapter for the microfinance industry, bringing credit card access to a segment traditionally underserved by conventional banking products,” he added.
Najeeb Agrawalla said the signing marked a landmark moment for Pakistan’s payments ecosystem. “This milestone reflects the strength of our domestic payment infrastructure and our commitment to delivering secure, convenient and locally powered payment solutions,” he said.
He said 1LINK was proud to partner with HBL Microfinance Bank and Euronet as PayPak continued to evolve and shape the future of payments in Pakistan.
Kashif Gaya said Euronet was proud to support the PayPak Credit Card initiative as card processor and technology partner. He said Euronet would bring its processing capabilities and payments expertise to the programme and congratulated HBL Microfinance Bank on becoming the inaugural partner for PayPak Credit Cards.
The partnership brings together HBL Microfinance Bank’s reach in microfinance, PayPak’s domestic payment network and Euronet’s technology capabilities to offer a locally powered credit card proposition in Pakistan.
