Gen Z key to normalise digital payments in Pakistan: Visa

Meezan Visa Student Debit Card will be offered to holders of the Meezan Asaan student account without incurring any costs
An undated image. — Visa
An undated image. — Visa

As the world has witnessed an uptick in efforts to digitalise payments over the past few years, Generation Z in Pakistan is believed to have the potential to normalise the digital payments revolution. 

The supposition was expressed by Leila Serhan, Visa's senior vice president and group country manager for North Africa, Levant, and Pakistan region, according to The News. The firm is a global leader in digital payments and also facilitates electronic funds transfers worldwide. 

“We believe that empowering the youth with financial tools is crucial for their future success and for Pakistan’s overall economic growth,” Serhan said. 

Serhan's views about Pakistan's youth came after the rollout of Pakistan’s first student debit card by Visa. The initiative was launched to fulfil the financial needs of the underprivileged segment of Pakistan's Gen Z and to break down barriers hindering their financial inclusion. 

As part of the programme, the Meezan Visa Student Debit Card will be offered to holders of the Meezan Asaan student account without incurring any costs, serving as a comprehensive platform for students in the country to manage their finances affordably. 

One of the most notable features of the card is its compatibility with ATMs, point-of-sale (POS) terminals and online platforms countrywide, eliminating the need for students to carry cash. 

In addition to its affordability and nationwide utility, these cards also grant students access to secure, convenient, and rewarding financial services. 

Of 253 million, more than 2.4 million students in Pakistan are enrolled in higher education institutions, with Pakistan's 30% of the population falling in the Gen Z age bracket, becoming the fifth largest Gen Z cohort in the world.