United Bank Limited (UBL) has entered into a strategic partnership with Euronet to serve as its point-of-sale (POS) acquiring processor, with the collaboration aimed at expanding the bank’s merchant acquiring business and strengthening its digital payments capabilities in Pakistan. The agreement brings together UBL’s banking and merchant network with Euronet’s payments technology and processing capabilities as demand for electronic and card-based payments continues to develop across the country.
The partnership was formalized during a signing ceremony at UBL’s Head Office, where senior executives from both organizations participated in the event. UBL was represented by Sohail Aziz, Chief Information & Digital Officer, and Syed Iftikhar Ul Haq, Group Executive, Consumer Finance, along with other senior members of the bank’s team. Euronet Pakistan was represented by Kashif Gaya, Chief Executive Officer, alongside senior executives from the company. The signing marks a new stage in the two companies’ efforts to expand payment acceptance and support the development of merchant-focused digital financial services.
Under the agreement, Euronet’s technology will support UBL’s merchant acquiring operations across several areas, including merchant acquisition, onboarding, transaction processing, settlement and servicing. The arrangement is expected to help streamline operational processes while giving UBL greater capacity to expand its merchant network. It will also support faster onboarding for businesses and improvements in service delivery, while providing opportunities to introduce additional payment services and acceptance channels as the market evolves.
For merchants, the partnership is expected to contribute to a more streamlined process for joining UBL’s acquiring network and managing payment acceptance services. Broader acceptance capabilities can provide businesses with additional options for receiving digital payments, while improvements in processing and settlement can support the operational side of merchant transactions. The technology infrastructure will also allow UBL to respond to emerging payment technologies as customer and merchant preferences continue to shift toward digital payment methods.
Sohail Aziz, Chief Information & Digital Officer at UBL, said the bank remains focused on investing in technology platforms as digital payments expand across Pakistan. He said the partnership with Euronet would strengthen UBL’s acquiring ecosystem while supporting improvements in customer experience and operational efficiency. According to Aziz, the initiative is also intended to expand the bank’s ability to provide secure and scalable payment solutions to businesses across the country, as part of UBL’s wider digital transformation and financial inclusion efforts.
Kashif Gaya, CEO of Euronet Pakistan, said the company was pleased to partner with UBL at a significant stage in the bank’s growth of its POS acquiring business. He highlighted Euronet’s payments technology, scale and experience as capabilities that could support UBL’s merchant acquiring objectives. Gaya also described the arrangement as a long-term strategic partnership and said Euronet would work with UBL to support the expansion of its digital payments and merchant acquiring operations.
The collaboration also reflects the increasing role of technology infrastructure in Pakistan’s payments market, where banks are expanding their digital channels and businesses are adopting electronic payment acceptance. For banks, merchant acquiring requires systems capable of handling transaction processing, settlement, onboarding and ongoing merchant servicing at scale. Partnerships with specialized payments technology providers can allow financial institutions to strengthen these functions while focusing internal resources on their broader banking and customer strategies.
For UBL, the agreement forms part of its efforts to expand merchant acceptance and develop its digital payments business. By combining its banking infrastructure with Euronet’s payment processing technology, the bank will seek to improve the way merchants are onboarded and served while creating capacity for additional payment channels and technologies. The partnership therefore represents a further step in UBL’s digital payments strategy and its efforts to participate in the continued development of Pakistan’s digital economy.
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