Pakistan Debit Card : The Evolution

Fifteen years ago, questions were being raised as to how well credit cards and debit cards would be viewed and accepted by people of Pakistan.  Initially, credit card companies and banks pushed people in this part of the world to believe that if they accepted a Pakistan debit card or credit card, they would be seen as successful, making them and their business a status symbol.  However, at that time, people had tons of questions and concerns.[br]

Fifteen years ago, questions were being raised as to how well credit cards and debit cards would be viewed and accepted by people of Pakistan.  Initially, credit card companies and banks pushed people in this part of the world to believe that if they accepted a Pakistan debit card or credit card, they would be seen as successful, making them and their business a status symbol.  However, at that time, people had tons of questions and concerns.[br]

While it took about three years, the people were taught that a Pakistan debit card and credit card would involve three different parties.  First, there was the cardholder, the consumer that used the card to buy thing.  Second, the retailer, the person/store that sold the various goods consumers needed.  Third, the issuing company, or credit card company or bank.  It was also shown that when a Pakistan debit card or credit card was used, all three of these parties would ultimately benefit from the convenience and sales.

For the cardholder of the Pakistan debit card/credit card, less cash had to be carried, which meant more safety while traveling to and from the store, specifically in the city of Karachi where unrest existed.  The cardholder would also save on excise duty since numerous purchases were made throughout the month.  Instead of the consumer paying with cash or several checks, the card could be used.  Consumers were also offered the ability to withdraw cash from ATMs anytime day or night.  Of course at that time, some concerns were raised as to the actual number of people would actually have the ability to get to an ATM or bank to use the Pakistan debit card or credit card.

Today, more people throughout Pakistan are now using a Pakistan debit card or credit card but these people are typically those living in the larger, more populated cities.  For a large number of people, home is still small villages quite a distance from metropolitan areas.  Most of these people do not read, have never used a computer, and have no idea or desire to learn about using a Pakistan debit card or credit card, nor would it probably benefit them.[br]

Even so, among the larger cities, there has been a lot of growth specific to the world of finance.  Many larger areas within Pakistan are working hard to rebuild a torn down city and while there are many challenges today due to the war, it is common to find banks that offer a Pakistan debit card or credit card.  Many people prefer to use the Pakistan debit card to the credit card as a means of not getting into debt, which is something that perhaps something from which people from others countries could learn.

Regardless, from 15 years ago to now, there has been a lot of changes in the way Pakistan handles finances.  Obviously, the benefit of banks offering a Pakistan debit card is that for purchases to be made, there would have to be money in the bank whereas with a credit card, the issuing company is put at risk.  Experts hope to see continuing rebuilding and more modern financial options to be developed and launched for the people of this country.  While it might still be a long time before a Pakistan debit card makes its way into the small villages, if ever, it is optimistic to see this type of card now being considered a standard offering in the larger cities.