JS Bank, one of the leading banks in Pakistan, and Euronet Pakistan, a division of Euronet Worldwide (NASDAQ: EEFT) and an industry leader in processing secure electronic financial transactions, have recently signed an agreement to drive the growing JS Bank’s credit cards program under a fully outsourced and managed services model.
The agreement was signed by Atif Salim Malik, Group Head Retail Banking, JS Bank, and Kashif Gaya, CEO, Euronet Pakistan at a ceremony held at JS Bank’s head office in Karachi.
Under this partnership, Euronet will provide JS Bank with a complete end-to-end credit cards management solution along with the card payment scheme gateways, hosted on Euronet’s PCI-compliant infrastructure in its data center facilities in Pakistan.
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This arrangement will also offer guaranteed service levels and processing uptimes that will allow JS Bank scalability, quick rollout of business initiatives, and reduction in their operational overheads.
Atif Salim Malik, Group Head, Retail Banking, said, “We are glad to partner with Euronet and leverage their unmatched skillset in portfolio migrations and expertise in driving large credit card programs as a card processor.”
“This partnership with an industry leader, clearly illustrates our intend and determination to scale and offer highly innovative credit cards products that would deliver great value to customers and an exceptional card holder experience,” he added.
Kashif Gaya, CEO Euronet Pakistan, said, “We are pleased to have entered a long-term valuable partnership with JS Bank and to be selected as the technology partner to operate their credit cards program.”
“This partnership completely aligns with our focus on product innovation and commitment to provide robust and scalable credit card processing in Pakistan. We look forward towards this partnership and would like to extend our gratitude towards JS Bank for placing their trust in our local market expertise and technology platform,” he added.
