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Euronet Focuses on Card Processing, & Withdraws its Bulk Transfers and Instant Credits PSO/PSP License

Euronet Pakistan, the largest card processor in Pakistan and a global leader in payment processing and transaction services is realigning its strategic focus and will no longer pursue its PSO/PSP license for Bulk Transfers and Instant Credits. This decision and strategic realignment reflect Euronet's commitment and dedicated focus on expanding its card processing market footprint in Pakistan, increased focus on collaborations with banks and partners, and enhancing the accessibility and efficiency of banking and payment services, in line with the SBP financial inclusion strategy, by integrating its advanced global technologies and solutions to ensure superior and regulatory compliant services for clients and partners. While Euronet remains dedicated to delivering innovative financial solutions and adding value in the local payments landscape, it is the second company to re-strategize its plan to establish itself as a PSO/PSP entity for the designated services without affecting the current business services. Earlier, MobiDirect Pvt Ltd also changed its plan for setting up an E-commerce Gateway in Pakistan. Euronet Pakistan is the division of Euronet Worldwide, a US-based NASDAQ listed company that has been operating in Pakistan since 2010. It is driving over 70% of the POS volume and running debit and credit card programs and driving ATMs for the leading banks and financial institutions through its data center facilities in Pakistan. Source: Pro Pakistani