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UnionPay International & HBL Pakistan forge card issuance partnership

By Gloria Mathias

February 02, 2024

  • APAC news
  • Card Issuing
  • Cards Management

HBL, Habib Bank, Pakistan, Fintech news, Finance News, UnionPay International, Card Issuing, Cards Management, Payments, eCommerce Payments, Pakistan Fintech news, China Fintech, Habib Bank (HBL) of Pakistan and UnionPay International (UPI) have jointly announced to strengthen over a decade of partnership and a commitment to further elevate their collaboration by signing a strategic partnership agreement in Shanghai.

The agreement focuses on introducing UnionPay-branded premium debit cards, positioning them for both existing and new bank customers. This agreement reflects the mutual dedication of both institutions to providing convenient payment solutions to their customers.

The signing ceremony, symbolising the strengthened ties between HBL and UPI, was captured in a picture that encapsulates the spirit of collaboration and strategic alignment between the two entities.

Over the past ten years, HBL has been at the forefront, establishing itself as a key player in the UnionPay ecosystem, boasting one of the largest UnionPay cardholder bases and a significant presence in POS/eCommerce transactions within Pakistan.

Aamir Kureshi, Head of Consumer Agriculture and SME Banking at HBL, recently visited UnionPay International headquarters in Shanghai. During a special meeting with UPI leadership, both parties discussed the ongoing business relationship, envisioned the way forward, explored new payment product opportunities, and mapped out an implementation roadmap.

Aamir Kureshi shared, “We are confident that this strategic partnership will not only enhance the overall banking experience for our customers but also pave the way for exciting new initiatives that leverage the robust bond between China and Pakistan.”

Bomee Sheng, Product Director of UnionPay International, said, “UPI is glad to be able to work with HBL in enhancing both accepting and issuing collaboration and offering premium products and better payment services for their common clients and customers.”

Both companies have also agreed to develop a strategic roadmap to implement serial collaboration, from accepting to issuing and innovation collaboration.

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