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PITB indicators MoU to combine Mastercard with PayZen 

by Pakistan Latest News Update

LAHORE – Punjab Data Know-how Board (PITB) has inked a memorandum of understanding (MoU) to combine Mastercard Asia/Pacific Pte. Ltd with PayZen, a contemporary digital fee answer to facilitate cash motion between completely different segments of the Monetary Ecosystem. 

The settlement was signed by PITB Director-Basic IT-Operations (IT-Ops) Faisal Yousaf and Nation Basic Supervisor Center East & North Africa (MENA) East J Ok Khalil throughout a ceremony carried out at Arfa Software program Know-how Park (ASTP) in Lahore. 

Whereas addressing the occasion, PITB IT-Ops DG Faisal Yousaf mentioned, ‘PITB plans to work with Mastercard to identify new opportunities for facilitation of the citizens. This collaboration will explore joint-ventures for digitization of government payments in Pakistan and worldwide.’ He additional burdened to increase cooperation in numerous areas together with meals, livestock, charge and toll assortment and so forth in close to future.

Mastercard’s Nation Basic Supervisor J Ok Khalil expressed gratitude over PITB’s technical help and provided their international experience on ‘open loop transit options’ that enable clients to pay utilizing their Debit/Credit score/ Pre-Paid playing cards for transportation. On this regard, obligatory help can be prolonged to PITB by way of accomplice buying financial institution, he pledged.

The Mastercard integration with PITB will even present the opportunity of establishing Mastercard Farmer Community / Provenance Options in Pakistan enabling farmers to promote their crops internationally.

Underneath this MoU, cooperation on numerous strategic alliance alternatives together with formalizing the potential collaboration with respect to introducing Digital Monetary Companies in PITB can be ensured.

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