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July 19, 2026
HBL launched the PayPak UnionPay Co-Badge Debit Card, combining Pakistan’s domestic payment scheme with UnionPay’s global network on a single card, advancing financial inclusion and China-Pakistan connectivity.
Pakistan’s largest debit card issuer just made a move that could reshape how millions of Pakistanis transact both at home and abroad.
HBL launched the HBL PayPak UnionPay Co-Badge Debit Card on July 15, 2026, at a ceremony held at HBL Tower, Karachi, bringing together Pakistan’s first domestic payment scheme and one of the world’s largest global payment networks onto a single piece of plastic.
The card, developed in partnership with 1LINK-operated PayPak and UnionPay International (UPI), features a dual-interface design that allows customers to transact securely across Pakistan’s domestic network and internationally through UnionPay’s global infrastructure.
For everyday users, the implication is straightforward: one card, accepted across Pakistan and around the world.
HBL has long been a cornerstone of both ecosystems. The bank is the pioneer partner of PayPak cards and one of the largest issuers and acquirers of PayPak in the country. HBL has also been issuing UnionPay debit cards since 2013, meaning this co-badge launch is a natural convergence of two relationships that have been building for over a decade.
The strategic significance of the card, however, runs deeper than convenience. The launch aligns directly with the State Bank of Pakistan’s vision to promote PayPak as a secure, inclusive, and interoperable domestic payment ecosystem, reducing reliance on foreign card schemes and strengthening Pakistan’s digital payment sovereignty.
China is central to the story. HBL is the only Pakistani bank with branches in both Beijing and Urumqi. The bank also facilitated Pakistan’s inaugural Panda Bond issuance and has been nominated as Chair of the Council of the Interbank Consortium of the Shanghai Cooperation Organisation for 2026 to 2027.
The UnionPay co-badge card extends that China-Pakistan financial corridor directly into the hands of retail customers.
The launch ceremony brought together some of the most senior names in Pakistan’s financial sector. SBP Governor Jameel Ahmad attended alongside Muhammad Nassir Salim, President and CEO of HBL; Li Yong, Commercial Counsellor for the People’s Republic of China; Nadeem Haroon, Country Head at UnionPay International for Pakistan, Qatar, Bahrain and Afghanistan; and Najeeb Agrawalla, CEO of 1LINK.
As Pakistan continues its push toward a cashless economy and deeper China-Pakistan economic integration under CPEC and SCO frameworks, the HBL PayPak UnionPay Co-Badge Card arrives as both a fintech product and a geopolitical statement. The domestic and the global, stitched together on a single card.
