LAHORE – In a landmark move to revolutionize financial transactions within the public sector, the Punjab Information Technology Board (PITB), MCB Bank, and Mastercard have signed a Memorandum of Understanding (MoU) to digitize payments across Pakistan.

The MoU was signed by PITB Additional Director General (ADG) Khurram Mushtaq and MCB Bank Group Head Shahzad Ishaq. The signing ceremony was attended by PITB & MCB Bank officials.

This strategic partnership aims at enhancing the efficiency, transparency, and security of online payments to various government and private institutions throughout Pakistan. As the primary interface for these payments, PITB’s PayZen platform will ensure that the process remains transparent, accessible, and user-friendly for the citizens of Pakistan.

In his remarks on the occasion, Chairman Faisal Yousaf stated, “This collaboration is set to streamline financial transactions, reduce bureaucratic inefficiencies, and provide a secure method for handling government payments, ultimately fostering a more digitally inclusive society.”

“Our goal is to make digital payments accessible and convenient for all citizens, enhancing overall public service delivery,” he added.