ISLAMABAD: Mastercard in collaboration with Bank of Khyber (BOK), and LMK Resources Pakistan (Private) Limited (LMKR) have introduced debit and credit cards or digital wallets payment system, eliminating the need to buy separate tickets, for Commuters at Peshawar’s mass transit system.
The parties, Mastercard, BOK, and LMKR have signed Mastercard Transit Partner Program Agreement to transform Peshawar’s mass transit system.
Under this agreement, Commuters can enjoy a seamless experience, using their debit and credit cards to pay for bus fares, in line with Pakistan’s digital transformation goals.
The agreement will see Mastercard’s digital payment platforms embedded first into the Zu Peshawar Bus Rapid Transit (BRT) payments infrastructure, used by over 200,000 commuters daily, followed by a wider rollout.
According to details, the partnership empowers BOK and LMKR to leverage Mastercard’s expertise to enable the development and implementation of cutting-edge EMV® transit solutions.
Cluster General Manager, MENA East, Mastercard J.K. Khalil after the signing ceremony in his address said that Mastercard has been at the forefront of shaping smart cities and urban mobility solutions for over a decade as we engage in transformative transit projects across the globe.
“We are committed to introducing innovative digital solutions to enable faster, safer and more convenient payment experiences for the communities we serve, adding that he said that Our alliance with BoK and LMKR harnesses our global expertise, ensuring a seamless travel experience for Peshawar’s commuters through our renowned transit payment solutions,” he added.
CEO & MD Bank of Khyber Ali Gulfaraz on this occasion said that at Bank of Khyber, we are committed to enhancing the everyday experiences of our customers.
“This collaboration with Mastercard and LMKR marks a leap forward in that direction with introducing a smarter and more efficient way to travel. With the combined expertise of our partners, we’re now turning this dream into reality,” he added.
“Our collective efforts aim to bring unmatched ease and convenience to daily commutes, while also building a system that promotes financial inclusivity for the people of Peshawar,” he added.
Meanwhile, CEO & Chairman of LMKR Atif Rais Khan in his turn said that At LMKR, our commitment is to reshape transit payments through innovative collaborations, envisioning a future where seamless contactless payment solutions redefine commuting convenience for all.
This vision echoes in our dedication to enhancing connectivity, streamlining journeys, and elevating overall commuting experiences. Ultimately, this creates a more accessible, efficient, and interconnected transit landscape, he expressed.
This collaboration highlights Mastercard’s commitment to enhancing transit solutions and the collaboration of BOK with LMKR reflects their drive to create a unified financial and digital ecosystem that caters to evolving commuter needs. The innovative open-loop payment solution ensures secure, scalable, and cost-effective travel payments, while offering flexible fare calculation methods.
Aligned with Pakistan’s digital transformation ambitions, this partnership sets a new standard in transit solutions, placing strong emphasis on accessibility, convenience, and financial inclusion.