Business Desk 
Jan 21, 2025
Mastercard has teamed up with foodpanda to promote digital payments in Pakistan on Tuesday. This partnership aims to reduce reliance on cash and support the country’s transition to a cashless economy.
This collaboration focuses on the intent of Mastercard to strengthen the digital ecosystem in Pakistan. However, it uses foodpanda's massive network to increase the awareness and usage of secure and rewarding payment options among millions of consumers.
Addressing cash-digital gap
According to the State Bank of Pakistan, currency in circulation (CIC) increased by 11.2% in the first half of 2024. Mastercard and foodpanda are addressing the gap between cash and digital payments, positioning themselves to ease digital payment adoption and promote inclusive growth in one of the region's most dynamic markets.
“With high smartphone penetration and robust digital infrastructure, Pakistan is primed for rapid adoption of cashless solutions. Our partnership with Mastercard enables us to accelerate this transformation, turning COD users into active digital consumers,” said the CEO of foodpanda Pakistan Muntaqa Peracha.
The new partnership will run programmes aimed at incentivising people to go digital rather than relying on cash on delivery (COD). Consumers will be able to gain discounts on those who pay using Mastercard Gold, Titanium, Platinum, World, and World Elite cards, thereby making the virtual payment channel more attractive to them.
Payment switch initiative
Mastercard and foodpanda have also launched the Payment Switch initiative, aiming to convert COD users to online payments. This initiative enhances Mastercard's reputation as the preferred payment method and urges customer trials through exclusive vouchers.
