Askari Bank, UnionPay sign cooperation MoU

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Askari Bank Limited (AKBL) and UnionPay International (UPI) have entered into an agreement to convert AKBL existing mag stripe cards to UnionPay QuickPass (NFC) and EMV Chip Cards in Pakistan. In addition to the agreement, the MoU was also signed for card acquiring business and remittance through Union Pay Money Express, according to a press release issued by the bank. The initiative will allow AKBL customers to enjoy convenience of contactless payments ‘TAP & GO’ while keeping the payments safe and secure. The partnership agreement was signed by Syed Taha Afzal, Head of Consumer Banking, Askari Bank Limited and Han Wang, General Manager, UnionPay International Middle East in Shanghai, China in the presence of Abid Sattar, President & CEO, Askari Bank Limited, Khurshid Zafar, Group Head, Corporate and Investment Banking, Askari Bank and Carlson Li, Chief Marketing Officer, UnionPay International, Nadeem Haroon, Country Manager and Kashif Ali, Head of Business Development – Pakistan, UnionPay International.