Pakistan Senate committee backs local rival to Visa, Mastercard

Urges all debit cards in nation to be issued under PayPak scheme

Pakistan launched PayPak in 2016 as the country's first and only domestic payment standard. It competes with international rivals such as Visa and Mastercard. (Source photos by Akitoshi Sugiura and from PayPak website)

ADNAN AAMIR

July 18, 2025 11:29 JST

ISLAMABAD -- Members of an influential Pakistani Senate committee are calling for all debit cards in the country to be issued under the nation's domestic payment scheme, potentially threatening international peers such as Visa and Mastercard in a key South Asian market.