Mashreq Pakistan, a leading financial institution in the MENA region, announced its partnership with 1LINK, Pakistan’s leading payments and payments service provider. This is an important milestone in Mashreq’s efforts to transform the digital banking experience for Mashreq customers in Pakistan.
By merging with 1LINK, Mashreq presents itself as a leading digital bank in the 1LINK network, offering a wide range of services to its customers. This partnership will provide access to 18,000+ ATMs for cash withdrawals, facilitate real-time transfers to 1LINK members from more than 40 organizations, and provide 1BILL payment services for, but not limited to, more than 2,500 settlement organizations. educational institutions, public services, government revenue, etc. Customers can also issue PayPak debit cards through this deal.
Commenting on the partnership, Mashreq Pakistan CEO Muhammad Hamayun Sajjad said, “As a trusted international digital leader, Mashreq aims to provide unparalleled digital banking solutions in Pakistan powered by modern technology and a strong commitment to responsible banking. Developing Pakistan by empowering its people through banking innovation, superior customer experience and financial access for all. This partnership allows 1LINK to offer superior digital banking services across the spectrum of services and demonstrates Mashrek’s commitment to a good customer experience.”
Mr. Najib Agrawalla, CEO, 1LINK said, “We welcome and congratulate Mashreq Pakistan as the first digital bank in the 1LINK network. This partnership will allow Mashreq to innovate products and services for its customer segments using the 1LINK rail. This is ideal. 1LINK’s continuous partnership and innovation .” show commitment.”
Mashreq is actively moving forward to obtain a limited license from the State Bank of Pakistan to pilot digital retail banking operations, marking an important step towards becoming a licensed banking institution. The key approval (IPA) received last year is an important step for the bank to become a digital banking leader in the international market and implement innovative digital banking solutions for banks in line with the country’s digital approach. strong economy. Building on the success of neo-banking in the MENA region, Mashreq has poised to deploy technology-ready infrastructure and technology expertise designed to empower its customers in Pakistan.
