HBL, Pakistan’s largest debit card issuer, has entered a strategic partnership with UnionPay International and PayPak to introduce the HBL UnionPay PayPak Co-Badge Debit Card, a financial product designed to combine domestic and international payment capability under a single card. The initiative strengthens Pakistan’s payment infrastructure and marks a significant milestone in the country’s journey toward deeper financial inclusion and digitally enabled commerce.
The agreement was formalized during a signing ceremony in Karachi attended by notable figures from the financial and diplomatic sectors. Participants included Saleem Ullah, Deputy Governor of the State Bank of Pakistan; Muhammad Nassir Salim, President and CEO of HBL; Li Yong, Commercial Counsellor at the Consulate General of the People’s Republic of China; Aamir Kureshi, Head of Products Transactional Services and Solution Delivery at HBL; Luping Zhang, General Manager for UnionPay International Middle East; and Najeeb Agrawalla, CEO of 1LINK (Private) Limited, the operator of PayPak. Their presence underscores the strategic relevance of the collaboration for Pakistan’s financial services ecosystem.
The launch of the co-badge card reflects HBL’s effort to broaden banking accessibility while reinforcing the country’s domestic payment network. PayPak, operated by 1LINK, supports local transactions without reliance on international networks, which contributes to strengthening Pakistan’s payment sovereignty and reducing foreign exchange outflows associated with international card switching. At the same time, UnionPay’s global network equips cardholders with international payment functionality, enabling seamless transactions abroad and across global digital channels. Bringing these capabilities together is intended to enhance consumer convenience, expand financial access, and support Pakistan’s evolving digital economy.
According to industry representatives, the introduction of a dual-network debit card is expected to benefit customers by providing cost-effective domestic transactions through PayPak while ensuring global reach via UnionPay when traveling or making cross-border purchases. This move is aligned with regulatory priorities, including the State Bank of Pakistan’s agenda to boost adoption of local payment schemes and strengthen Pakistan’s position in global financial services.
The collaboration also represents a step forward in technological integration and cross-border financial partnerships. UnionPay’s increasing footprint in South Asia, combined with PayPak’s growing acceptance network, allows HBL to deliver a comprehensive card solution designed for modern consumer banking needs. It is anticipated that the co-badge rollout will boost digital payment activity across retail, e-commerce, and service segments, offering both convenience and security to Pakistan’s expanding base of digital banking users.
At the event, bank executives and representatives from partner organizations highlighted the program’s importance for Pakistan’s financial system, describing it as a foundation for future digital payment innovation. The initiative arrives at a time when Pakistan is prioritizing digital infrastructure development, domestic transaction routing, and improved interoperability to support both national economic goals and consumer expectations in a competitive banking market.
HBL’s position as the country’s largest debit card issuer adds scale and momentum to the project. The bank’s digital channels and nationwide branch network are expected to drive widespread adoption, reinforcing Pakistan’s transition toward a resilient and technologically progressive payments framework.
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