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 Mr. Atif Salim Malik, Group Head Retail Banking, JS Bank, and Mr. 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. 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.
Mr. 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.”
Mr. 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.”
About Euronet Pakistan
Euronet Pakistan, a subsidiary of Euronet Worldwide, brings with it the experience of one of the world’s largest global providers dedicated to banking and payments technologies. Euronet Pakistan offers the best blend of technology and outsourcing services to all Pakistani banks from its state-of-the-art facility in Karachi, Pakistan. Backed by the very best talent in the local industry we provide unmatched flexibility, scalability, and SLA-based services.
Euronet Worldwide is an industry leader in processing secure electronic financial transactions, serving more than 200 institutions in approximately 150 countries.
The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers, and individual consumers. These services include comprehensive ATM, POS, and card outsourcing services, card issuing and merchant acquiring services, software solutions, consumer money transfer, and bill payment services, and electronic distribution for prepaid mobile phone time and other prepaid products.
About JS Bank:
JS Bank is amongst the fastest-growing Banks in Pakistan, with both a domestic and an international presence. The Bank is a leader in the SME space and has a substantial footprint in Digital Banking and Consumer Loans. JS Bank has been recognized on multiple international and national forums, including the prestigious AsiaMoney, Asian Banking, Finance, DIGI, and Pakistan Banking Awards. The Bank is part of JS Group, one of Pakistan’s most diversified and progressive financial services groups. For more information, please visit www.jsbl.com