Visa, the global payments technology company, has reiterated its commitment to advancing digital payments and financial inclusion in Pakistan. This commitment was highlighted during a high-level meeting between Visa’s delegation, led by Tareq Muhmood, Regional President for Central Europe, Middle East, and Africa (CEMEA), and Federal Minister for Finance and Revenue, Muhammad Aurangzeb.
The discussions focused on accelerating Pakistan’s digital transformation, with a particular emphasis on strengthening digital infrastructure, payment systems, and digitising government payments. Visa shared its insights gained through engagements with banks, fintech companies, and other stakeholders in Pakistan, noting growing confidence in the market, driven by macroeconomic stabilisation and an increasing interest in digital payments.
Key topics discussed included the displacement of cash, fraud prevention measures, and the support of small and nano businesses through innovative solutions like QR and tap-to-phone services. The meeting also stressed the importance of expanding payment infrastructure to Tier-2 and Tier-3 cities to foster broader financial inclusion.
Aurangzeb briefed the delegation on the ongoing reforms under the IMF-supported program, including progress in taxation, public debt management, and privatisation. He also outlined initiatives to digitise government receipts and expenditures, aiming to improve transparency and service delivery.
The delegation also explored emerging areas such as remittances, e-commerce, and the potential use of blockchain and digital assets within a regulated framework. Both sides reaffirmed their commitment to continued collaboration in areas such as government payments digitisation and promoting financial inclusion.
Visa’s delegation included senior officials like Leila Serhan, Senior Vice President, NALIP; Joanne Kubba, Senior Vice President, Government Affairs, CEMEA; Umar Khan, Country Manager, Visa Pakistan; and Nauman Majeed, Visa Government Sales.
