Pakistan set to launch locally developed credit card

KARACHI – Pakistan is set to introduce its first locally developed credit card under the Pay Pak payment scheme, marking a new chapter in Pakistan’s payment. The initiative will be launched by 1Link, which provides online banking services to banks and financial institutions, in collaboration with the State Bank of Pakistan and member banks. The credit card will be accepted across Pakistan and will also allow users to make international payments, while the entire operational management of the system will remain within the country. The model is also expected to enable smaller banks to offer credit card services without requiring major upfront investment in costly infrastructure, allowing them to scale according to customer demand. Earlier, the company has launched its debit cards. These include cards offering family benefits, weekly online shopping discounts, and cards that can be used both within Pakistan and internationally.