News

Euronet, MCB launch Pakistan's first EMV debit card

February 14, 2012

Euronet Pakistan, a subsidiary of Euronet Worldwide, today announced in a press release the launch of Pakistan’s first EMV debit card in partnership with MCB Bank Ltd. of Pakistan. The move makes Euronet Pakistan the first EMV certified processor and gateway for EMV VISA debit services in the country.

MCB has the largest banking network in the country, with a debit card base of 2.5 million and more than 650 ATMs. It was one of the first banks to launch electronic banking services in the country and was the first bank to adopt outsourced EFT services, migrating from an in-house processing solution to an outsourced Euronet ITM system.

Prior to the EMV debit card launch, MCB performed stringent testing to ensure Euronet’s service center, processing systems and operational procedures met global EMV security and regulatory standards.

“Euronet systems are highly flexible, robust and yet at the same time have readily available modules to launch new initiatives in this rapidly evolving payment processing arena,” said Ali Mubashir Kazmi, group head of consumer banking for MCB. “MCB is proud to have Euronet as its technology partner and we already have a comprehensive plan in place for steady progress towards being able to offer the best electronic banking services in the region,”

“We are delighted to provide MCB Bank with the first mover advantage on VISA EMV Debit Cards,” stated Mohamed Mousa, Vice President, Euronet Middle East, Africa and Pakistan. “With many more innovative services in the pipeline and the investment in the state-of-the-art data facility, Euronet is committed to providing cutting-edge technology to this growing market.”

For more information on this topic, visit our EMV research center.