KARACHI, Pakistan, Jan. 24, 2013 (GLOBE NEWSWIRE ) — Euronet Pakistan Private Limited, a subsidiary of Euronet Worldwide, Inc., today announced the successful migration for Burj Bank, to Euronet’s PCI DSS compliant processing platform was completed in less than three months. Burj Bank is launching Pakistan’s first MasterCard debit card for its customers, along with other innovative services like utility bill payment and interbank fund transfer through collaboration with Euronet as its technology partner.
“Congratulations to Euronet and its team for achieving this remarkable milestone within a short span of time. We are very satisfied with the extraordinary support we received from the company’s entire team throughout the migration process. This strategic partnership will enable us to move confidently towards our growth objectives and create greater value for our customers by providing them a wide range of innovative services, while ensuring a reliable and scalable payment processing environment,” said Ahmed Khizer, President & Chief Executive Officer, Burj Bank.
“With this migration, Burj Bank is now able to align its resources where they matter — serving and building relationships with customers. The strength of our relationship with Burj Bank enables the bank to draw on our expertise in the payment processing industry and stay ahead of its competition in the market by providing a comprehensive suite of payment card related services,” said Mohamed Mousa, Vice President Euronet Worldwide & Managing Director Middle East, Africa and Pakistan.
Euronet’s solutions are designed to meet the rapidly changing needs of the electronic payment industry. The company intends to build on its strength by providing services to more authorised banks in Pakistan, Afghanistan and Central Asia.
About Euronet Worldwide
Euronet Worldwide, Inc. is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, consumer money transfer and bill payment services, and electronic distribution for prepaid mobile phone time and other prepaid products.
Euronet’s global payment network is extensive – including 17,370 ATMs, approximately 69,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 36 countries; card software solutions; a prepaid processing network of approximately 631,000 POS terminals at approximately 304,000 retailer locations in 29 countries; and a consumer-to-consumer money transfer network of approximately 170,000 locations serving 133 countries. With corporate headquarters in Leawood, Kansas, USA, and 47 worldwide offices, Euronet serves clients in approximately 150 countries. For more information, please visit the Company’s website at www.euronetworldwide.com.
The Euronet Worldwide, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=15729
About Burj Bank
With a vision to be “the Islamic bank of choice,” Burj Bank (BURJ) has emerged as the fastest growing Islamic Bank of Pakistan. The bank offers a diversified range of Shari’ah-compliant funded and non-funded products & services aimed at both individual and corporate customers. The bank also offers investment and corporate advisory services besides an array of Islamic retail banking products.
Burj Bank has a rich Middle Eastern background with the financial & technical support of a great institution such as ICD Jeddah (Islamic Corporation for Development of the Private Sector) which is the private sector arm of Islamic Development Bank, Jeddah. Other major shareholders include Bank Al-Khair from Bahrain, Gargash Enterprises from the UAE and Al-Romaizan from Saudi Arabia. Burj Bank is the first double AA Rated Bank for Shari’ah Quality in Pakistan.
For more information, visit www.burjbankltd.com
CONTACT: Ahson Saeed