Mashreq, Paysys team up

KARACHI: Mashreq Pakistan and Paysys Labs Pvt Ltd have formed a strategic partnership to introduce innovative digital payment solutions in Pakistan, a statement said on Tuesday.

The partnership aims to develop a digital payment solution integrating real-time payment systems such as RAAST, RTGS, and other solutions to improve payment convenience, reliability, and speed for customers.

Mashreq Pakistan, a part of the leading MENA region financial institution Mashreq, and Paysys Labs, a payment technology provider, will work together to enhance digital payment offerings and provide customers with seamless and secure access to digital banking functionalities and services.

"This partnership is a major milestone on our journey to realize our vision in Pakistan," said Muhammad Hamayun Sajjad, CEO of Mashreq Pakistan. "We are committed to supporting Pakistan's growth by empowering its people through banking innovation, superior customer experience, and financial accessibility for all."

The partnership aims to create a more inclusive and efficient payment ecosystem in Pakistan, with Mashreq's customers set to benefit from end-to-end digital onboarding and real-time instant payments backed by Paysys' unified payments platform.