Mastercard has joined forces with the Bank of Punjab (BOP) as an exclusive partner to enhance the bank’s proposition across consumer debit and credit, affluent portfolio and loyalty offerings. The collaboration seeks to transform the bank’s digital ecosystem and its customers’ digital experience.
Customers of BOP’s priority banking program KHAAS will now benefit from Mastercard’s market-leading World and World Elite cards. Under this partnership, the bank will expand into new affluent segments with revised customer value propositions (CVP) and best-in-class products, aiming to establish KHAAS as the country’s preferred priority program for affluent and high-net-worth individuals (HNIs). The collaboration will also see the launch of Islamic credit cards to address the high demand for Islamic banking payment solutions in Pakistan.
In addition, BOP will introduce an enterprise-wide loyalty program using Mastercard’s global expertise, Pay with Rewards and Mastercard Rewards Solutions, cutting across multiple products and segments. Pay with Rewards is a one-of-a-kind digital experience that gives cardholders the freedom to spend loyalty points like cash at the time of purchase for instant, seamless rewards redemption.
Finally, the partners will work together to improve BOP’s mobile app digiBOP’s user interface (UI) and user experience (UX), leveraging Mastercard Digital Spark Lab, an immersive innovation platform that combines the latest digital technologies, design thinking and UX expertise.
Other areas of collaboration include transit payments, Mastercard Gateway and low-cost acceptance.
BOP also supports Mastercard’s Strive Women program that aims to improve financial access for women entrepreneurs in Pakistan.
