Faysal Bank Partners with PSO for Digital Payment Innovation
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Faysal Bank Limited (FBL), one of Pakistan’s leading Islamic Banks, has recently signed a strategic MoU with Pakistan State Oil (PSO) for the expansion of digital acceptance solutions at PSO fuel stations nationwide.
This collaboration underscores a shared commitment to advancing Pakistan’s digital financial ecosystem by streamlining transactions through cutting-edge payment solutions.
The signing ceremony held at PSO House, was attended by Mr. Yousaf Hussain, President & CEO Faysal Bank Ltd., S.M Taha, MD & CEO, PSO along with senior executives from both organisations.
To elevate customer experience, the Bank will deploy advanced POS solutions at PSO fuel stations, enabling seamless digital transactions for both fuel and non-fuel purchases. Powered by FBL’s fintech partner, AltPay, the system will integrate payment acceptance across bank-issued cards, PSO fuel cards, and other digital methods, ensuring real-time transaction visibility.
Mr. Yousaf Hussain, President and CEO, FBL said on the occasion: “We are committed to transforming Pakistan’s digital financial ecosystem by driving innovation and expanding access to seamless Shariah-compliant payment solutions. Our collaboration with PSO marks a significant milestone in this journey, enabling customers to experience greater convenience and accessibility through digital transactions at fuel stations nationwide. By leveraging cutting-edge technology, we aim to not only streamline payments but also enhance security, efficiency, and transparency in financial transactions. This initiative aligns with our broader vision of fostering financial inclusion, promoting cashless transactions, and contributing to the country’s digital economic growth.”
Through this collaboration, the Bank has set the stage for a more connected, efficient, and secure digital payment infrastructure, reinforcing both organizations’ vision for a digitally empowered economy.
Reference Link:- https://propakistani.pk/2025/02/01/faysal-bank-partners-with-pso-for-digital-payment-innovation/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
