Mobilink Microfinance Bank launches EMV compliant Visa Debit Cards using IRIS Payments Platform
Islamabad, Pakistan – July, 2018: Building on a strong partnership, Mobilink Microfinance Bank Limited (MMBL) has collaborated with its trusted technology partner TPS to further enhance payment security and convenience for its customers. MMBL leveraged the capabilities of TPS’ IRIS Payments Platform to issue EMV compliant Visa Debit Cards, meeting the evolving market needs and changing regulatory requirements.
The EMV compliant debit cards will be issued to both Mobilink and JazzCash customers, enabling them to benefit from the speed and security of EMV and reduce card-present fraud. With Visa Debit Card, MMBL’s customers can conveniently make purchases anywhere within Pakistan without the need of carrying cash around.
With IRIS Payments Platform at the core, TPS has led EMV deployments from South Asia and Middle East to Europe and Africa, allowing banks and financial institutions across the world to be on par with the global EMV (Europay, MasterCard and Visa) and Payment Card Industry (PCI) standards.
“As the digital payments industry is undergoing rapid progression, our customers are looking for more secure and convenient ways to make payments. As a customer centric bank, we have decided to roll out EMV compliant debit cards, making it easier for our customers to safely make their payments. We look forward to working with TPS to bring faster and safer payment technologies to the market.” said Ghazanfar Azzam, President & CEO, Mobilink Microfinance Bank Limited.
Shahzad Shahid, CEO at TPS said, “We are really happy to be the technology partner of MMBL which is a leader in the financial inclusion enabled through mobile wallets. The secure (chip) cards attached to the microfinance bank accounts and wallets will ensure customer’s protection from possible card fraud and shall build trust and confidence on the digital payment methods.”
About Mobilink Microfinance Bank
Mobilink Microfinance Bank Limited (MMBL), backed by JAZZ and international telecom group VEON, is one of the largest digital banks in Pakistan offering mobile wallets, regular, savings and term deposits, G2P & B2P payments, home remittances, domestic money transfers, digital payments, collection of utility bills, micro finance & micro enterprise lending etc. through its vast network of over 60 branches & 75,000 branch-less banking agents throughout Pakistan.
About TPS
TPS is a leading provider of payment solutions which is trusted by over 130 commercial and central banks, telecoms, payment processors and financial institutions across Asia, Africa and Europe. With Pakistan as its base since 1996, TPS has played a pivotal role in building 1LINK, which is now the country’s largest interbank switch. TPS has the largest market share in Pakistan, with its technologies and services empowering banks to issue cards and provide digital services. With continuous investment in technology and human capital, TPS has been constantly developing and improving its solutions while maintaining a customer centric approach.
