Mastercard partners with Ravi Urban Development Authority to build cashless economic zone
Collaboration will simplify everyday payments for RUDA residents and drive transformation across Pakistan
Lahore (Muhammad Yasir) Mastercard has signed a strategic partnership with the Pakistan’s Ravi Urban Development Authority (RUDA) to transform the community into a cashless economic zone and drive digital transformation in the country.
The collaboration will see Mastercard deploy its smart city solutions in the urban development project to enable residents, merchants and authorities to connect simply and seamlessly through digital channels. Citizens will be able to make everyday payments as well as pay for bills and utility services through automated portals.
Through the partnership, RUDA will achieve efficiencies across its various processes including fee collection and other administrative services. RUDA intends to develop urban areas of the province into sustainable, livable and well-managed engines of economic growth. Mastercard will support RUDA in achieving this vision and establish a cashless framework within the community’s blueprint.
Commenting on the partnership, Khalid Elgibali, Division President, Middle East & North Africa, Mastercard, said: “As Pakistan embraces the power of digital payments, Mastercard is committed to driving digital transformation in the country through our strategic public-private-partnerships. We are working with the government across various sectors to digitize the nation’s economic infrastructure and offer citizens and communities a seamless smart city experience. The collaboration with RUDA is a milestone moment in this journey as we look to power a fully cashless community that offers convenience, simplicity and security.”
The Chief Executive Officer of RUDA, Mr. Imran Amin said: “Mastercard has a stellar track record of powering cashless communities in several economic hubs around the world. We value the expertise that they will bring as we look to power RUDA with the flexibility and safety of smart economic solutions. The collaboration is a testament to Pakistan’s progress as a developing digital hub in the Middle East and North Africa region.”
The collaboration is the latest in a series of strategic partnerships that have cemented Mastercard’s role as a key enabler of digitization across Pakistan. Earlier this year, Mastercard announced its partnership with Special Technology Zone to develop the country’s first cash-free zones and advance the country’s technology sector.