In a major step towards strengthening digital payment security and convenience in Pakistan, Allied Bank Limited (ABL), UnionPay International (UPI), and Paysys Labs have entered into a strategic partnership to introduce tokenization technology for mobile Tap-and-Pay transactions.<\/p>\n
This collaboration empowers ABL customers, particularly users of UnionPay-PayPak Co-Badge Debit Cards, to enjoy a seamless, secure, and contactless payment experience through mobile devices. ABL, one of the largest issuers of UPI-PayPak Co-Badge debit cards in the country, will now offer tokenized mobile payment solutions that replace sensitive cardholder data with unique tokens\u2014enhancing security while enabling faster transactions.<\/p>\n
The launch ceremony, held at the Paysys Labs Head Office in Karachi, brought together senior executives from the three organizations to mark the occasion.<\/p>\n
Muhammad Kamran Zeb, Group Head Cards & Acquiring Business at ABL, stated, \u201cThis partnership marks a pivotal step forward in Pakistan\u2019s digital payment ecosystem. By adopting tokenization technology, Allied Bank reaffirms its commitment to innovation and customer-centric solutions.\u201d<\/p>\n
Nadeem Haroon, Country Head of UPI Pakistan, added, \u201cUnionPay International is proud to support Pakistan\u2019s digital transformation<\/a> journey. With HCE tokenization technology, we are enabling a safer and more efficient payment environment for customers.\u201d<\/p>\n Karim Jindani, CEO of Paysys Labs, remarked, \u201cAt Paysys Labs, we are dedicated to empowering digital payment systems with the latest technologies. This collaboration will elevate the payment experience for users while ensuring the highest standards of security.\u201d<\/p>\n The partnership signals a promising advancement in Pakistan\u2019s financial technology sector, with all three institutions aiming to drive secure and innovative digital payment solutions<\/a> for the future.<\/p>\n Allied Bank Limited (ABL) is one of Pakistan’s leading financial institutions, with a robust network of 1,500+ online branches and 1,650 ATMs across the country. ABL offers a wide range of technology-driven products and services to its diverse customer base. Visit\u00a0ABL\u2019s website<\/a>.<\/p>\n Paysys Labs is a leading payment technology provider based in Pakistan, offering a comprehensive suite of solutions including digital payment systems, mobile wallets, and other innovative financial technologies. Paysys is dedicated to delivering secure and advanced payment solutions that enhance transaction speed, reliability, and security.<\/p>\n By leveraging the latest advancements in payment technology,\u00a0Paysys Labs<\/a>\u00a0empowers businesses of all sizes to manage financial transactions seamlessly and efficiently. With a strong focus on customer satisfaction, it plays a key role in shaping Pakistan\u2019s digital payment ecosystem<\/a> through innovations like tokenization, mobile payments, and contactless technology.<\/p>\n UnionPay International (UPI<\/a>) is a subsidiary of China UnionPay focused on the growth and support of UnionPay\u2019s global business. In partnership with more than 2600 institutions worldwide, UnionPay International has enabled card acceptance in 183 countries and regions with issuance in 84 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment<\/a> services to the world\u2019s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.<\/p>\n","protected":false},"excerpt":{"rendered":" In a major step towards strengthening digital payment security and convenience in Pakistan, Allied Bank Limited (ABL), UnionPay International (UPI), and Paysys Labs have entered into a strategic partnership to introduce tokenization technology for mobile Tap-and-Pay transactions. This collaboration empowers ABL customers, particularly users of UnionPay-PayPak Co-Badge Debit Cards, to enjoy a seamless, secure, and […]<\/p>\n","protected":false},"author":1,"featured_media":5158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t