Mastercard and foodpanda to boost digital payments in Pakistan

This initiative aligns with Mastercard’s broader objective of enhancing financial inclusion and supporting the development of a digital payment ecosystem in Pakistan. Recent data from the State Bank of Pakistan indicates an 11.2% increase in currency circulation during the first half of 2024, highlighting the need for solutions that encourage a shift toward digital transactions.

The collaboration focuses on reducing the reliance on cash-on-delivery (COD) by introducing incentives that encourage digital payment usage. Leveraging foodpanda’s widespread presence, Mastercard aims to increase awareness and adoption of secure and efficient payment methods among millions of consumers in Pakistan.

As part of this initiative, Mastercard cardholders can access discounts when using their cards on foodpanda’s platforms. For example, Mastercard Gold and Titanium cardholders receive a 20% discount with the code MC20, while Platinum, World, and World Elite cardholders benefit from a 30% discount using the code MC30.

These offers are applicable across foodpanda’s services, including food delivery, grocery shopping, and courier services, providing additional incentives to transition from cash payments to digital options.

Payment Switch

A notable component of the partnership is the Payment Switch initiative. This feature seeks to encourage COD users to opt for online payments by offering exclusive vouchers and facilitating smoother payment experiences at the point of order placement. The goal is to improve conversion rates from cash to digital payments, positioning Mastercard as a preferred payment method for consumers.

With Pakistan’s growing smartphone penetration and digital infrastructure, the initiative targets increased participation in the digital economy and fosters financial inclusion in underserved areas. The collaboration is seen as a step toward accelerating the adoption of cashless payment solutions in one of South Asia’s rapidly evolving markets.