Business Desk 
Dec 02, 2025
Faysal Bank Limited (FBL), in collaboration with PayPak and Mastercard, on Tuesday launched Pakistan’s first PayPak–Mastercard co-badge debit card, aiming to make a significant advancement in the country’s payments ecosystem.
The Bank stated that the new card brings together the global acceptance and security of Mastercard with the reliability and cost-efficiency of PayPak, supporting the State Bank of Pakistan’s (SBP) vision of a robust and self-reliant domestic payments infrastructure.
Powered by PayPak’s homegrown infrastructure and Mastercard’s international network, the co-badge card provides secure, interoperable, and globally connected payment options.
Speaking at the launch ceremony, SBP Governor Jameed Ahmad stated: “Today’s co-badging initiative is a step forward towards developing mutually beneficial partnerships between international and domestic payments schemes that can create better value for all stakeholders. I congratulate Faysal Bank, Mastercard, and 1Link on taking this initiative.
"SBP would continue to ensure a level playing field for all the payment system players, including the international payment schemes. The future of our payments system lies in a strong, interoperable, secure and self-sustaining digital payments infrastructure that supports financial inclusion and facilitates sustainable and inclusive economic growth,” added SBP governor.
With the launch of PayPak–Mastercard co-badge debit card, Faysal Bank continues to lead in Shariah-compliant and digitally innovative banking, reinforcing its mission to provide future-ready solutions across Pakistan.
Faysal Bank President and CEO Yousaf Hussain said: “We feel honoured to pave the way for fostering digital payments in Pakistan by launching PayPak Mastercard Co-Badge Debit Card at Faysal Bank, which marks the next chapter in Pakistan’s payments evolution. This is another industry-first product similar to Faysal Bank’s flagship Noor card, the only Shariah-compliant credit card available in the market.
"This milestone reflects the growing strength of our domestic payments ecosystem, the value of collaboration between local institutions and global partners, our commitment as a bank and as a wider industry to provide customers with secure, modern, internationally accessible digital payment solutions as envisioned by the State Bank of Pakistan," stated Hussain.
The launch event was attended by the SBP governor as the chief guest, along with SBP Deputy Governor Saleem Ullah and the senior leadership of Faysal Bank Limited, Paypak, MasterCard & Euronet, highlighting the importance of this partnership in shaping Pakistan’s digital payments future.
