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Wednesday, May 22, 2024

JS Bank and Visa – Paving the way in payment innovations

JS Bank has improved its capacity and capability to provide financial freedom through a newer collaboration with leading digital payment provider, Visa.

As one of the leading banks in Pakistan, JS Bank’s objective is to expand the digital and consumer banking space in the country. Accordingly, they have recently entered into a multi-dimensional agreement with the world’s leader in digital payments – Visa. The partnership between JS Bank and Visa will prove successful in many ways. However, it primarily shows JS Bank’s resolve to bring forth new ways to pay via innovative solutions; that is, beyond the standard service menu available in Pakistan.

Traditionally the market for credit cards market in Pakistan has been segment-driven. However, JS Bank aims to extend its footprint, hence, making it easy for customers to access credit anywhere. In this journey, Visa with its global experience and scale, will assist JS Bank in launching new and innovative payment solutions in the local market.

The intention of JS Bank and Visa is to create a paradigm shift in how regular payments are driven. This can be done by services like, contactless mobile and QR based payments; which will eventually make the ecommerce transaction experience more convenient.

Read more: Asiamoney Awards 2020: JS Bank wins “Best Bank for SME” award!

Remarks on the occasion

Kamran Jafar, Deputy CEO JS Bank commented on the long-term effects of the collaboration between JS Bank and Visa. “This partnership will ultimately benefit the customers at large. To make that happen, our objective is to make innovation a constant feature to eventually develop, faster and more convenient ways to transact.”

Babbar Wajid, Business Head Consumer Banking and Product Development also added to the discussion. “JS considers Visa our strategic partner. We share the common vision to further strengthen and change the payment landscape in Pakistan.”

Kamil Khan, Visa’s Country Manager Pakistan & Afghanistan, said: “Through our partnership with JS Bank, consumers in Pakistan will have the opportunity to enjoy the latest in digital payment innovation. This will deliver seamless, secure and rewarding payment experiences”. Khan believes that their cardholders deserve such an experience.

Key Features offered by the Visa Debit Card at JS Bank

Wide Cash Withdrawal Access: Withdraw cash from more than 14,000 ATMs on 1-Link or MNET network in Pakistan and 1 million Visa Network ATMs globally

Wide Retailer Reach Globally: Accepted at over 27 million retailers globally and in Pakistan

Theft Protection and Insurance: Theft protection and insurance against fraudulent transactions made on your card after you report the incident

24/7 Phone Banking: Use our 24-hour phone banking service to active your card

Background on JS Bank

JS Bank Ltd is one of the fastest-growing banks in Pakistan, with 360 branches in 180 cities including one international branch. The Bank is a leader in the digital banking space and distribution of insurance solutions.

JS has been recognized on multiple international and national forums. These include the prestigious AsiaMoney, Asian Banking and Finance, DIGI and Pakistan Banking Awards. The Bank is part of JS Group, one of Pakistan’s most diversified and progressive financial services groups.

Read more: JS Gold Finance: Enabling businesses everywhere!

What deserves an honorary mention is that the bank became fully compliant with SBP’s green banking guidelines. Thereby, JS Bank is the only bank in Pakistan to have a certified green office. It believes in leading by example, thereby introducing carbon reduction measures in its own operations.

They executed this by making certain changes in their working model. This includes measuring energy and paper consumption, increasing use of solar power and automating more of its processes to reduce documentation.