Standard Chartered Bank, Mastercard partner to drive payment innovation

Standard Chartered Bank, Mastercard partner to drive payment innovation

In a strategic move to accelerate payment innovation in Pakistan, Standard Chartered Bank Pakistan Ltd. and Mastercard have entered into an exclusive partnership.

The collaboration is expected to broaden the bank’s current offerings and fuel the growth of the digital payment landscape across the country. Mastercard, a long-standing partner of Standard Chartered, has once again become the preferred and exclusive partner for all consumer and commercial debit and credit portfolios.

As part of the partnership, Standard Chartered and Mastercard are set to introduce Mastercard’s World and World Elite cards, targeting ultra-high-net-worth individuals (UHNWI). These exclusive cards will provide cardholders with priceless lifestyle and travel benefits and experiences. The offerings include access to select luxury experiences, shopping opportunities in cities worldwide, discounted car rental and chauffeur services, complimentary nights at select hotels and resorts, as well as access to premium airline services.

Saadya Riaz, Head CPBB (Consumer, Private, and Business Banking) at Standard Chartered Pakistan, expressed their commitment to providing customers with best-in-class products and solutions, accompanied by value-added benefits and a differentiated, digital-first client experience. The partnership with Mastercard aligns with this commitment and signifies a step towards achieving those goals.

Andrew Pugh, Vice President and Head of Global Key Account Management, EEMEA (Eastern Europe, Middle East, and Africa), at Mastercard, emphasized the importance of strategic collaborations in fostering sustainable and inclusive growth. He highlighted the need to build a connected ecosystem that transcends cash, providing equal access to a better life for all individuals. Mastercard is pleased to extend its long-standing partnership with Standard Chartered as part of this endeavor.

The collaboration between Standard Chartered and Mastercard further underscores the latter’s dedication to helping financial institutions diversify their payment solutions portfolio. This effort aligns with Mastercard’s global commitment to bringing one billion people and 50 million micro and small businesses into the digital economy by 2025. By investing in new and secure products that cater to various consumer segments, Mastercard aims to foster a robust cashless economy. Together, Standard Chartered Bank and Mastercard are determined to meet the evolving needs of consumers by offering the bank’s customers the latest in payment innovations and a market-leading portfolio of secure, seamless, and rewarding products.

The partnership between Standard Chartered Bank Pakistan and Mastercard marks a significant stride towards advancing payment innovation in Pakistan, expanding digital payment options, and providing exclusive benefits to customers.

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