LAHORE: The MCB Bank Limited (MCB) has entered into an agreement with the UnionPay International (UPI) to further facilitate e-commerce businesses, a statement said on Wednesday.
Under the agreement, all e-commerce businesses that utilise the MCB e-Gate service will be able to receive patronage from the UnionPay International debit and credit card holders who will now be able to conduct online payment transactions on their platforms.
Muhammad Azam Naeem, business head of Digital Banking, MCB Bank Limited, and Nadeem Haroon, country manager, UnionPay Pakistan, signed the agreement at the MCB House.
Jasim Ahmed Waheed, department head acceptance, digital banking of MCB Bank; Umer Qasim, product manager of e-commerce and Payment Gateway, Digital Banking, MCB Bank; Kashif Ali, Ali Abbas and Mehtab Haider from the UnionPay International were also present on the occasion.
Shahzad Ishaq, group head of consumer and digital banking, MCB Bank, said: “[The] purpose of all our digital initiatives is enhancing customers’ access to payments, convenience and ease of doing transactions. We will enrich the value proposition provided to the bank’s e-commerce merchants. Through our agreement with [the] UnionPay International, our partnering e-commerce merchants will benefit from the potential business with over 12 million UnionPay cardholders in Pakistan.”
James Yang, general manager of the UnionPay International Middle East, said: “UnionPay has the world’s largest cardholder base across 70 countries and regions. Providing security and convenience for all of our customers is key when looking to the future. Supporting both merchants and consumers, UnionPay International invests in technology and innovation to deliver a range of leading products, all adhering to the highest standards of security and protection.”