Strengthening and modernising Pakistan's domestic payments ecosystem
· Jameel Ahmad, Governor of the State Bank of Pakistan (Pakistan)
Summary written by Dark Majestic in its own words · topics: payments, digital money and crypto-assets, technology, ai and cyber risk
JA · Jameel Ahmad Wiki · State Bank of Pakistan WikiStrengthening and modernising Pakistan's domestic payments ecosystemContextSpeech by the Governor of the State Bank of Pakistan in Karachi at the launch of a co-badged Mastercard–PayPak card by Faysal Bank.
Why it mattersPakistan's central bank explains how it is modernising the national payment network.
Problems raised- Pakistan's domestic payment system needs modernising.
- The national scheme PayPak is not attractive enough.
- Fraud and cyber risks threaten payments.
Solutions proposed- Co-badge PayPak with international schemes.
- Integrate with e-commerce gateways.
- Invest in technology, fraud detection and cybersecurity.
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