PROVINCE REPORT
PESHAWAR: Mastercard and the Bank of Khyber (BoK) have entered into a strategic alliance to expand the bank’s digital payments portfolio, giving customers greater access to secure, convenient and modern payment solutions.
The collaboration will support the digitization of personal, commercial and government transactions, contributing to Pakistan’s broader transition towards a more inclusive, cashless economy.
“Bank of Khyber is our strategic partner as Khyber Pakhtunkhwa leads Pakistan’s transition towards a cashless economy. The province has expanded from three digitized services two years ago to 170 today, covering person-to-government, person-to-merchant and government-to-person payments, including pension and salary disbursements through Raast. With a population of 45 million and significant untapped potential in remittances, e-commerce and merchant digitization, we, as the bank’s major shareholder, remain committed to supporting BoK’s growth,” said Muzzammil Aslam, Minister for Finance, Government of Khyber Pakhtunkhwa.
“Building a cashless economy is central to our strategic agenda. As a truly national bank, BoK aims to compete strongly by offering a comprehensive range of innovative products and services that meet customers’ evolving financial needs,” said Islam Zeb, Additional Chief Secretary, Government of Khyber Pakhtunkhwa, and Chairman, BoK.
“We are pleased to deepen our collaboration with Bank of Khyber, reflecting the bank’s continued trust in Mastercard. We remain committed to accelerating digitization of the payments ecosystem across Khyber Pakhtunkhwa, particularly within the debit, credit, affluent and SME segments. Together, we will promote greater financial inclusion and the continued evolution of Pakistan’s payments landscape,” said Arslan Khan, Country Manager, Pakistan and Afghanistan, Mastercard.
“This agreement marks an important milestone in BoK’s digital transformation journey. By expanding our card portfolio across consumer and commercial segments, we aim to offer customers greater convenience, security and access to modern payment solutions, while contributing to the growth of Khyber Pakhtunkhwa’s digital economy,” said Hassan Raza, Managing Director and CEO, Bank of Khyber.
