Mastercard has entered into a strategic partnership with the Bank of Khyber (BOK) and LMK Resources Pakistan (Private) Limited (LMKR) to revolutionize Peshawar’s public transportation system. The collaboration is part of the Mastercard Transit Partner Program Agreement, which aims to digitize payment methods for bus fares in line with Pakistan’s digital transformation objectives.
The alliance enables BOK and LMKR to tap into Mastercard’s extensive knowledge and experience in developing and implementing advanced EMV® transit solutions. This move is expected to significantly enhance the commuting experience by offering a seamless, efficient, and digital way to pay for travel.
J.K Khalil, General Manager MENA East Mastercard, emphasized that Mastercard has been leading the charge in shaping smart cities and urban mobility solutions for over a decade. He added that the partnership with BOK and LMKR would leverage their global expertise to ensure a smooth travel experience for Peshawar’s commuters through their renowned transit payment solutions.
Ali Gulfaraz, CEO & MD of the Bank of Khyber, expressed his commitment to improving the everyday experiences of their customers. He stated that this collaboration marks a significant step forward in achieving this goal. The collective efforts aim to bring unparalleled ease and convenience to daily commutes while promoting financial inclusivity for the people of Peshawar.
Atif Rais Khan, CEO & Chairman of LMKR, echoed these sentiments, stating that their commitment is to reshape transit payments through innovative collaborations. He envisions a future where seamless contactless payment solutions redefine commuting convenience for all.
This partnership is a testament to the growing trend of digital transformation in the financial sector, particularly in the area of public transportation. It not only enhances the commuting experience but also contributes to the broader goal of financial inclusion.