MCB, PITB, Mastercard to collaborate on PayZen and Enhance Digital Payment Landscape

MCB Bank Limited, one of Pakistan’s leading banks, has entered into a strategic partnership with the Punjab Information Technology Board (PITB) and Mastercard Asia/Pacific Pte. Ltd. The ceremony, held at MCB Bank’s head office, brought together senior representatives from all three organizations, marking a significant step towards advancing digital payment solutions in Pakistan.

Through this partnership, MCB Bank reaffirms its commitment to leveraging cutting-edge financial technologies to foster economic growth and financial inclusion across the region. The integration of Mastercard’s advanced payment solutions with PITB’s innovative Payzen platform is expected to revolutionize the digital payment landscape, providing real-time, secure transaction capabilities to Pakistani users.

The agreement was signed between Mr. Shahzad Ishaq – Group Head Digital Banking, MCB Bank and Mr. Khurram Mushtaq – ADG, PITB in the presence of Mr. Haroon Rasul Khokhar – Project Director PITB, Mr. Imran Yousaf – Head Payment Solutions MCB Bank and other representatives from MCB Bank, PITB and Mastercard.

Speaking at the occasion, Mr. Shahzad Ishaq, Group Head Digital Banking, MCB Bank said “We are thrilled to partner with PITB and Mastercard to revolutionize the digital payment ecosystem in Pakistan. This MoU signifies a major step forward in our commitment to providing innovative, secure, and user-friendly payment solutions. By leveraging advanced technologies, we aim to enhance the financial inclusion and economic growth of our country.”

Mr. Khurram Mushtaq – ADG, PITB also added, “PITB is excited to collaborate with MCB Bank and Mastercard to bring transparent and accessible payment solutions to Pakistan. The integration of our Payzen platform with Mastercard’s payment gateway services will streamline government and private transactions, ensuring a seamless and efficient experience for all users. This partnership underscores our dedication to harnessing technology for public benefit.”