Mastercard will play important role in developing Pakistan’s first cash-free zone
Mastercard has signed a strategic digital country partnership with the Special Technology Zones Authority (STZA) in Pakistan to build the country’s first cashless zone.
The MOU was signed in the United Arab Emirates on the sidelines of Expo 2020 Dubai, where President of Pakistan Dr. Arif Alvi also held a meeting with Mastercard’s Division President for the Middle East and North Africa Khalid Elgibalat and a delegation from STZA and Mastercard.
“As a fundamental enabler of inclusive economic growth, the Special Technology Zones Authority is charged with delivering on key strategic goals of inclusive socio-economic development and economic opportunity, particularly for our youth. Having signed a digital country partnership with Pakistan, Mastercard will now play an important role in developing our country’s first cash-free zone and in contributing to Pakistan’s technology sector,” Dr Arif Alvi said.
Pakistan’s first cashless zone
Mastercard in collaboration with the STZA will develop Pakistan’s first cashless Special Technology Zone and deploy smart city solutions, support small and medium enterprises, boost artificial intelligence and cybersecurity capabilities, and promote the use of agritech.
“Partnering with Pakistan’s Special Technology Zones Authority allows us to join forces with its leadership to further advance the country’s digital economy and drive inclusion for all” said Khalid Elgibali.
“Mastercard believes in the power of public-private partnerships to unleash the potential of national economies and we are excited to embark on this next chapter as we work towards a more connected Pakistan,” he said.
Build digital payment infrastructure
The STZA has been recently established to provide a world-class digital and physical infrastructure through the development of technology zones across the country as part of a national strategy that aims to place Pakistan on the global technology map.
“Having Mastercard on board as a strategic partner will help us to deploy best-in-class digital payments infrastructure, which our innovators, SMEs, and the wider digital economy rely upon. I am very much looking forward to working with our partners at Mastercard to boost our exciting national technology strategy,” said Amer Hashmi Chairman of the STZA.
STZA will work closely with Mastercard as it expands its national footprint to facilitate inclusive growth and innovation in tech zones across the country.