Karachi—United Bank Limited (UBL), Pakistan’s Best Bank 2016, has won the ‘Innovation Award’ at the Mastercard Innovation Forum held in Budapest, Hungary. This award recognizes the bank’s “global first” achievement of launching UBL MasterPass QR. Every year, Mastercard organizes the Innovation Forum with invitees from around the world.
The forum explores how Innovation changes lives and assesses the impact this transformation will have on the future. The Forum features interactive panel sessions, stimulating commentaries and hands-on demos. It connects over 500 decision makers and industry experts from across the globe. UBL recently launched the MasterPass QR digital payment service in partnership with Mastercard. As the country’s first interoperable digital payment service, MasterPass QR allows consumers to use their mobile banking app to pay for in-store, bill payments (invoices) and for delivery with one secure account.