Albaraka Bank Unionpay

Albaraka Bank Unionpay

 UnionPay International and AlBaraka Bank (Pakistan) jointly announce their cooperation on the issuance of UnionPay debit cards (card number starting with 62) following UnionPay International’s card-issuing cooperation with FBL, HBL and other banks in Pakistan. The accelerated development of local card-issuing business has brought safe, convenient and preferential service to more and more local cardholders.

Since the beginning of this year, UnionPay International has established cooperation with a number of institutions in Pakistan, which has rapidly increased the acceptance of UnionPay cards. Currently, UnionPay cards have become accepted by 80% of merchants in Pakistan, covering supermarkets, brand chain stores, hotels, restaurants, souvenir shops and other spending places, and by over 60% of ATMs which is expected to grow to 100% by the end of this year.

AlBaraka Bank which comes into cooperation with UnionPay International this time is an emerging bank with market influence, strong network and customer resources in Pakistan which has set up 94 outlets in 42 cities. All UnionPay cards issued locally are international payment cards which can be conveniently used by cardholders not only in Pakistan but also for cross-border payment via UnionPay card acceptance network in more than 140 countries and regions.

Since the establishment of “China-Pakistan Free Trade Zone”, China and Pakistan have witnessed increasingly intimate economic and trade exchanges between each other and rapid growth in bilateral trade as well as a good number of Chinese enterprises “going out” to undertake infrastructure projects or invest in enterprises in Pakistan. UnionPay cards have positively contributed to the economic, trade and personnel exchanges between China and Pakistan.

Currently, UnionPay International is accelerating the expansion of UnionPay card acceptance network while having contributed to the issuance of 22 million UnionPay cards in overseas market, which has provided overseas cardholders increasingly convenient localized service. UnionPay cards have been issued in many markets including Asia-Pacific, Europe, North America, Middle East, and Africa, covering diversified types of cards with different functions, including UnionPay Debit Card, UnionPay Credit Card, UnionPay Prepaid Card, etc.