News

Euronet lands EFT outsourcing deal with Pakistani bank

August 14, 2012

Euronet Pakistan, a subsidiary of Euronet Worldwide and the first EFT outsourcing provider in Pakistan, has signed a comprehensive EFT outsourcing agreement with Burj Bank, one of the fastest-growing Islamic banks in Pakistan.

"In a short span of time, Burj Bank has become a symbol of prosperity, progress and success," said Ahmed Khizer Khan, president and CEO of Burj Bank. "By working with partners who reflect these principles, we will be able to deliver world-class banking services as we rapidly expand our customer base in the country. Through our partnership with Euronet, we will have access to the latest security and compliance methodologies in the payment industry, which will enable us to create greater value for our customers while ensuring reliability and scalability."

Under the agreement, Burj will utilize Euronet's PCI DSS compliant processing platform, which will replace its current in-house system. Among other services, Euronet will enable and launch MasterCard debit cards for Burj Bank customers. Taking advantage of Euronet's implementation experience will allow the bank to offer new transactions and services to their customers in a bid to stay ahead of competing banks.

"Burj Bank is growing rapidly and we look forward to this collaboration and the opportunities it will bring for us both," said Mohamed Mousa, VP of Euronet Worldwide and managing director for the Middle East, Africa and Pakistan.

For more on this topic, visit the transaction processing research center.