KARACHI - 1LINK, Pakistan’s largest payment service provider and payment system operator, has collaborated with Visa, a world leader in digital payments, signing a partnership agreement. The signing ceremony was attended by Saleem Ullah, Deputy Governor of SBP, Sohail Javaad, Executive Director of DFS Group, senior officials from SBP, Abrar Ahmed Mir, chairman 1LINK, along with other members of 1LINK Board, Najeeb Agrawalla, CEO 1LINK, Ms. Leila Serhan, Senior Vice President and Group Country Manager for Visa (North Africa, Levant, and Pakistan), and management teams from both 1LINK and Visa. The partnership facilitates integration of the Visa Alias Directory Service within the 1LINK network, which aims to simplify incoming remittances, improve user experience, and protect sensitive payment credential information. The global payment ecosystem is composed of many networks with banks, digital wallets, and other local payment methods, often operating in silos within very different regulatory parameters. The partnership with Visa will play a significant role in shaping inward remittances in the Pakistan economy and building collaboration among these silos. In addition, the partnership looks to enhance Pakistan’s payment system by boosting cross-border payments through Visa Direct, which will facilitate real time payments to consumers globally. According to Visa’s ‘Money Travels: 2024 Digital Remittances Adoption Report’, digital apps continue to be increasingly adopted, with digital remittances being preferred method to send money across borders due to ease of use and enhanced safety. This partnership will allow industry to adopt new payment methods, including acceptance of PayPak cards on Visa’s Cybersource platform, which will enable secure transactions for PayPak users at online merchants.