Habib Bank Limited (HBL) and UnionPay International signed a strategic Memorandum of Understanding (MoU) in Shanghai to expand digital payment and card services in Pakistan, marking a new step in financial and digital connectivity between the two sides.

The agreement was signed at UnionPay International’s headquarters, with HBL President and CEO Muhammad Nassir Salim and UnionPay International CEO Larry Wang representing the two institutions, Gwadar Pro reported on Monday.

The cooperation will focus on expanding digital payment options, increasing the availability of UnionPay cards for customers in Pakistan and facilitating smoother domestic and international transactions.

The agreement will connect HBL’s extensive banking network in Pakistan with UnionPay’s international payment infrastructure, providing customers with greater access to electronic payment services for transactions within Pakistan and abroad.

The partnership builds on the longstanding relationship between the two institutions and comes as Pakistan seeks to expand digital financial services and encourage wider adoption of electronic payments.

The collaboration is expected to support the development of more connected payment services while providing additional options for customers and businesses operating across domestic and international markets.

The initiative also adds a financial-services dimension to the broader Pakistan-China economic and technological relationship, particularly as digitalisation becomes an increasingly important component of bilateral cooperation.

Credit: Independent News Pakistan (INP) — Pak-China