Karachi (Muhammad Yasir)
Mastercard, a global technology company in
the payments industry, has partnered with ABHI, an embedded finance
platform, to introduce the Mastercard-enabled Salary Advance Cards for
the first time in Pakistan.
ABHI users will be able to order this card via the ABHI app, 24/7 call
center, or through the HR departments of their associated companies,
enabling them to access earned salaries conveniently. This
collaboration will enhance the accessibility of international and
domestic online payments for ABHI’s Earned Wage Access (EWA) users.
At the core of this partnership is a joint commitment to empower
individuals and drive positive transformation in Pakistan’s financial
landscape, marking a milestone in the development of payment
infrastructure. By leveraging Mastercard’s technology, ABHI will
enrich its products and services to ensure safe and quick transactions
for its users. As the two companies unite to advance financial
wellness across the region, this partnership signifies a leap toward
fostering a secure digital economy.
“While the digital economy is revolutionizing the financial landscape
of Pakistan, we at ABHI are dedicated to empowering individuals and
businesses through our innovative products. By introducing Salary
Cards powered with Mastercard’s technology, we’re initiating a new era
of seamless transactions for working individuals across the region.
With Mastercard-powered ABHI Salary Cards, our users will gain the
ability to conduct both local and international transactions directly
from their Earned Wage Access. The partnership with Mastercard
embodies our shared vision for a more inclusive financial future,
where everyone has access to convenient and secure financial
solutions,” said Ali Ladhubhai, Co-Founder and COO of ABHI.
“At Mastercard, we pride ourselves on leveraging our global technology
and expertise to co-create market-relevant, innovative, and
customer-centric payment solutions in close collaboration with key
local ecosystem players. We are delighted to partner with ABHI, an
exciting FinTech, to launch Salary Advance Cards that will connect
their customers to our global payments network. Together, we are
working towards a common goal of ensuring that more businesses, more
SMEs and more people than ever have access to the benefits and
opportunities offered by digital payments as we deliver on our
commitment of including one billion people to the digital economy,”
said Arslan Khan, Country Manager, Pakistan at Mastercard.
Founded in 2021, ABHI is promoting financial inclusion across the
region, serving Pakistan, UAE, and KSA with its innovative
credit-bridging products. These offerings, which include Earned Wage
Access, Payroll Solutions, and SME Financing, are designed to empower
businesses and their employees financially. ABHI has earned
recognition as one of the Future 100 companies in the UAE and was also
the first fintech firm in the MENAP region to join the World Economic
Forum’s Technology Pioneers community in 2023.
With its global expertise in the payments industry, Mastercard is
utilizing secure data and networks to unlock new opportunities for
individuals, financial institutions, governments, and businesses. The
partnership between Mastercard and ABHI aims to strengthen the digital
payment infrastructure, facilitate future transaction expansion, and
promote financial inclusivity.