BankIslami, EFU Partner to Expand Digital Microtakaful Access
July 15, 2026
Mastercard and the Bank of Punjab (BOP) are expanding their partnership to advance digital payments, financial inclusion, transit payments and remittances in Pakistan.
Mastercard and Bank of Punjab (BOP) have expanded their strategic collaboration to support Pakistan’s transition toward a cashless, digitally connected and financially inclusive economy.
Senior leadership from both organisations met in Karachi to discuss new areas of cooperation, building on their existing partnership in digital payments and financial services. The discussions focused on expanding financial inclusion, digital government disbursements, transit payments, cross-border remittances and wider adoption of secure digital payment solutions.
The two organisations explored opportunities to increase the use of card-based payment solutions, contactless transactions, e-commerce and next generation payment technologies across consumers, businesses, merchants and public sector institutions.
Mastercard and BOP also reviewed the progress of several Punjab government initiatives supported through Mastercard-enabled debit and credit cards issued by the bank. These include the CM Punjab Asaan Karobar Card, CM Punjab Kissan Card and CM Punjab Livestock Card, which provide financing to entrepreneurs, farmers and livestock owners through digital payment channels.
The meeting also highlighted BOP’s implementation of the Ramzan Nigehban Programme, where financial assistance was distributed through Mastercard-enabled debit cards. According to the organisations, the initiative demonstrated how digital payment mechanisms can improve transparency, operational efficiency and the beneficiary experience while reducing reliance on cash-based disbursements.
A key area of future collaboration is the digitisation of Punjab’s public transport system. Mastercard and BOP are working together on transit payment solutions covering 13 cities across the province, enabling commuters to make contactless fare payments using bank-issued cards. The initiative supports broader efforts to modernise Pakistan’s transport infrastructure through digital payment technologies.
The discussions also covered opportunities to strengthen cross-border payments and remittance services by combining Mastercard’s global payments network with BOP’s expanding international payment capabilities. The collaboration aims to improve the efficiency and accessibility of remittance services for overseas Pakistanis and their families.
The expanded partnership reflects the organisations’ continued focus on strengthening Pakistan’s digital payments ecosystem while supporting broader financial inclusion and digital transformation initiatives. My leveraging payment technologies and public-private collaboration, Mastercard and BOP aim to enhance access to formal financial services, improve payment infrastructure and accelerate the country’s transition toward a more digital economy.
