Allied Bank has announced the launch of PayPak card — a locally switched card with no dependency on any international gateway.
PayPak cards are to be operated by 1Link and are duly approved by State Bank of Pakistan.
It won’t be out of place to mention that International Cards (such as Visa or MasterCard) are operated by foreign operators and they charge a fee (very nominal one though) for transactions done through these cards.
Allied Bank’s PayPak cards can be used anywhere with-in Pakistan with 1Link and MNet network for ATM transactions. Moreover, customers with PayPak cards will also be able do any retail/purchase transactions anywhere within Pakistan.
PayPak cards, however, won’t work outside Pakistan.
Allied Bank said that its issuing PayPak cards in two categories with different limits. Basic card will come with a daily cash limit of Rs. 25,000 while regular card will come with a daily cash limit of Rs. 50,000.
Transactions Offered through PayPak Card:
- Shop at Point-of-Sale (POS) displaying PayPak sign
- Cash withdrawal through ATM displaying 1Link & MNET signs
- Utility Bill Payment (through ATM)
- Fund Transfer (through ATM)
- Balance Inquiry (through ATM)
- Mini Statement (through ATM)
- Cheque Book request (through ATM)
PayPak cards currently won’t work on internet, however, with time they will be allowed to be used for usage on internet (for online shopping etc.).