PayPak
PayPak (Urdu: پے پاک) is a Pakistani domestic financial services and payment service launched by 1Link under the State Bank of Pakistan Vision 2020. Currently, 35 of the country's banks have adopted it. The reason to launch this domestic payment scheme was to save inter-change costs of International Payment Schemes. PayPak cards can only be used on ATMs & POS Terminals throughout Pakistan and enabled for online transactions.
| Product type | |
|---|---|
| Owner | 1LINK |
| Country | Pakistan |
| Introduced | 5 April 2016 |
| Markets | Pakistan |
| Website | 1link |
The new payment scheme aims to compete in the domestic market with other international payment schemes like Visa, MasterCard & UnionPay.
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