Unionpay International and Decagon Pakistan Sign Cooperation Agreement
SHANGHAI, December 29, 2017
UnionPay International, one of the world’s largest payment schemes, and Decagon Pakistan brand Golootlo have entered into a partnership to cooperate to issue UnionPay prepaid and debit cards in collaboration with the issuing banks in Pakistan, offering secure and convenient payment services to the local customers. The two parties will also seek future cooperation opportunities to introduce UnionPay’s QR Code payment mechanism within Golootlo’s merchant network across Pakistan. The partnership was signed by Shuan Ghaidan, Director of Products, UnionPay International and Aziz Kassamali, Chairman, Decagon Pakistan in Shanghai, China.
Mr. Shuan Ghaidan said, “Pakistan is an important market strategically and geographically for UnionPay and we are committed to taking part in the continuous growth of the eco-system in the Pakistan payments landscape. The issuance of the new UnionPay card products with the day to day value added benefits like discounts and financial wellness for the cardholders makes a perfect fit for a cash based economy like Pakistan and targeting masses to migrate towards digital payments. The future introduction of UnionPay innovative payment products like contactless payment and QR code payment will offer even more diverse and flexible payment services to the local customers. ”
“Decagon Pakistan is delighted to partner with UnionPay International. This partnership will bring the successful startup to a much larger audience through partner banks and will provide value added services to the banks customers.” said Aziz Kassamali. He further added, “We believe that this is a major step in transforming Pakistan’s cash based economy. Customers in this market are price sensitive and by combining UnionPay’s mobile payment solution with our engagement tools and innovative products we will add value and convenience to the daily lives of Pakistanis.”
Golootlo is also releasing its proprietary app that will be Pakistan’s first mobile app offering real time and time-sensitive discounts to users. App will include location based services, social networking capabilities and payments options through UnionPay QR codes. Decagon with its joint venture partnership with PayActiv Inc., leading financial wellness platform based in Silicon Valley USA, is also launching PayActiv-enabled UnionPay prepaid and debit cards which are linked to digital wallets and mobile payments through UnionPay QR Code in Pakistan.