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PayPak information


PayPak
PayPak
Product type
  • Credit Card
  • Debit Card
  • Contactless smart card
  • Stored-value card
  • Digital card
Owner1LINK
CountryPayPak Pakistan
Introduced5 April 2016; 8 years ago (2016-04-05)
MarketsPakistan
Website1link.net.pk/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.[1] 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.[2]

The new payment scheme aims to compete in the domestic market with other international payment schemes like Visa, MasterCard & UnionPay.[3]

  1. ^ "First domestic payment scheme launched". Dawn. 2016-04-06. Retrieved 2019-04-28.
  2. ^ Khan, Mutaher (2019-04-21). "Tech talk: A local startup bets the bank on electronic payments". Dawn. Retrieved 2019-04-28.
  3. ^ "Pakistan's First Domestic Payment Scheme PayPak Launched". ProPakistani. Retrieved 2019-04-28.

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PayPak

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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...

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1LINK

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scheme – PayPak in April, 2016. PayPak has 10% of market share in terms of volume of cards in the market. While Visa has 40%, Mastercard and UnionPay have...

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Habib Bank Limited

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ATMs are linked to Visa and Mastercard, China UnionPay, and to the domestic 1LINK, MNET, and PayPak switches. IBFT (Interbank Funds Transfer) facility...

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UnionPay

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Silkpay.eu. "1Link - PayPak". 1link.net.pk. Archived from the original on 23 July 2019. Retrieved 23 July 2019. "Tarjeta Union Pay". www.credicorpbank...

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List of company name etymologies

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the 1950s, featuring a stylised picture of a panda on the cover. PayPak – from Pay and Pakistan, serving as an indigenous payment service. Peek Freans...

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Turbat International Airport

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kilometres, linked to Visa and Mastercard, China UnionPay, and to the domestic 1LINK, MNET and PayPak switches. IBFT (Interbank Funds Transfer) facility...

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Bibi Pak Daman

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Bibi Pak Daman (Urdu: بی بی پاکدامن Bībī Pāk Dāman) is a mausoleum confirmed to Pakistan Government by Imam Ali Raza Haram Research Centre Iran to be...

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Green Dot Corporation

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time.com. Kirchheimer, Sid. "Green Dot MoneyPak Card Scams – Wire Transfer, Prepaid Debit". "MoneyGram to Pay $18 Million to Settle FTC Charges That it...

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List of 2022 albums

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Retrieved October 27, 2022. DiVita, Joe (August 26, 2022). "Fire from the Gods Pay Homage to Strong Moms with "Thousand Lifetimes" Song, Announces Soul Revolution...

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ATM usage fees

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(international). United Bank Limited: Rs.23.44 (domestic), international: 0 (Pay Pak), 4.5% (Pay Pak/UPI and all other cards). In the Philippines, there is a ₱200 charge...

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Pakistan

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and Urdu word... It means the land of the Paks, the spiritually pure and clean." Etymologists note that پاک pāk, is 'pure' in Persian and Pashto and the...

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Abhinandan Varthaman

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2019. Retrieved 3 March 2019. "Enough evidence to show Pak used F16s, 'disinformation' by Pak: Indian Air Force". News Laundry. 1 March 2019. Archived...

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Pakistan Army

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pronounced [ˈpaːkɪstaːn faːɔːdʒ]), commonly known as the Pak Army (Urdu: پاک فوج, romanized: Pāk Fãuj) is the land service branch and the largest component...

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Pakistan Air Force

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The Pakistan Air Force (PAF) (Urdu: پاک فِضائیہ, romanized: Pāk Fìzāʾiyah; pronounced [pɑːk fɪzɑːɪjəɦ]) is the aerial warfare branch of the Pakistan Armed...

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Sarabjit Singh

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2009. Retrieved 26 June 2012. "Sarabjit files fresh plea, seeks mercy on Pak I-day". 14 July 2012. Archived from the original on 14 July 2012. Retrieved...

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Park Chung Hee

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Park Chung Hee (Korean: 박정희, IPA: [pak̚.tɕ͈ʌŋ.çi]; November 14, 1917 – October 26, 1979) was a South Korean politician and army general. After seizing...

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Pak Business Express

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The Pak Business Express (Urdu: پاک کاروبار اکسپريس ), often abbreviated as Business Express, is a daily express train service between in Pakistan between...

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Jagdpanther

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built by Germany during World War II. The Jagdpanther combined the 8.8 cm Pak 43 anti-tank gun, similar to the main gun of the Tiger II, with the armor...

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Umer Shareef

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October 2021. "Mr. Charlie". Pak Film Magazine. 25 March 1993. "Khandan". Pak Film Magazine. 25 March 1993. "Laat Sahb". Pak Film Magazine. Retrieved 5...

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Sanjay Mone

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Avaghachi Sansar Abhalmaya Kanala Khada De Dhamaal Dhyasparva ध्यासपर्व (2001) Pak Pak Pakaak पक पक पकाक (2005) Kaydyacha Bola कायद्याचं बोला (2005) Matichya...

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Korean War

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proposed that a commission of India and Sweden determine what the U.S. should pay in compensation, but the Soviets vetoed the U.S. proposal. Meanwhile, U.S...

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Insurance, Richemont, Credit Suisse, Barry Callebaut, Swiss Re, Rolex, Tetra Pak, Swatch Group and Swiss International Air Lines. Switzerland's most important...

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