1Link signs tri-party agreement with Faysal Bank and Webdnaworks to enable the First White Label ATM Operator of Pakistan

On an ambition to enhance the financial penetration in the country and in line with the vision of State Bank of Pakistan to increase the acquiring network in Pakistan comparable to other countries on the globe. 1LINK entered into a tripartite contract with Webdnaworks (Pvt) Ltd and Faysal Bank Ltd.

1LINK entered into a tripartite contract with Webdnaworks (Pvt) Ltd and Faysal Bank Ltd.

 

Webdnaworks (Pvt) Ltd., incorporated in September 2003, is the pioneer of Independent ATM deployment and operations in Pakistan and is the first non-banking entity to get the State Bank of Pakistan’s license of PSO and PSP (Payment Service Provider/Payment Service Operator) for the deployment of White Label ATMs (WLAs) with the trademark CASH 1. Faysal Bank partnered as a settlement bank and 1LINK being the largest and state of the art switch infrastructure will support the processing of the transactions.

Commenting on the occasion, Mr. Qamar Abbas, Director and CEO of Webdnaworks (Pvt) Ltd. stated that “We will be deploying 150 ATMs Nationwide in the initial Quarter of our launch and we are aiming to swiftly extend our reach to ensure availability of ATM for every cardholder across Pakistan”.

Mr. Syed Zaheer Abbas, Head Consumer Finance & ADC Operations, Faysal Bank commented: “FBL has always prided itself on being a progressive and Innovative bank. FBL believes in collaboration to provide new and convenient products and services for customers”.

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