Islamabad: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met with a Mastercard delegation headed by Mark Elliott, Division President, East Arabia, to discuss enhancing cooperation in digital payments, financial inclusion, and cybersecurity as part of Pakistan’s efforts to advance a cashless economy.
According to Press Information Department, the Finance Minister recognized Mastercard’s ongoing collaboration with Pakistan’s financial sector and its interest in aiding the country’s digital transition. He stressed the government’s dedication to expanding digital payments and improving access to financial services to enhance economic transparency and efficiency.
Senator Aurangzeb emphasized the significance of the Prime Minister’s cashless economy initiative and the role of digital financial solutions in aiding agriculture, small and medium enterprises, and underserved economic sectors. He noted that broadening digital financial services is crucial for achieving widespread financial inclusion.
The discussions also focused on enhancing cross-border remittances, digital payment infrastructure, and cybersecurity. The Finance Minister stressed the importance of cybersecurity and fraud prevention in developing a secure digital financial ecosystem.
Mark Elliott reiterated Mastercard’s commitment to Pakistan, expressing interest in using its global expertise to support the country’s digital transformation. He noted potential collaboration opportunities in digital payment acceptance, financial inclusion, remittances, and cybersecurity.
The Finance Minister welcomed Mastercard’s engagement and investment in Pakistan and reaffirmed the government’s commitment to fostering innovation and strengthening public-private partnerships. Both parties resolved to continue their engagement and explore cooperation avenues to support Pakistan’s digital economy.
The Mastercard delegation included Arslan Khan, Country Manager, Pakistan and Afghanistan, and Jibran Jamshad, Director Public Sector, Pakistan and Afghanistan.