Mastercard has once again joined forces with foodpanda, a Delivery Hero-owned online food and grocery delivery platform, to enhance digital payment adoption in Pakistan and support the nation’s transition towards a cashless economy.

This strategic partnership highlights Mastercard’s commitment to advancing financial inclusion and strengthening the country's digital ecosystem. Data from the State Bank of Pakistan indicates a significant increase in currency in circulation (CIC) by 11.2% during the first half of 2024. By bridging the gap between cash and digital payments, Mastercard and foodpanda aim to drive the growth of a cashless economy and foster inclusive prosperity in one of the region’s most dynamic markets.

The collaboration introduces various initiatives to encourage the use of digital payment methods over cash on delivery (COD). Leveraging foodpanda’s extensive network, Mastercard will promote awareness and usage of secure and rewarding payment options for millions of consumers across the country.

“By combining our global expertise in seamless and secure payment technologies with foodpanda’s vast reach, we are making digital payments more accessible and convenient for consumers across the country. This collaboration marks a pivotal step in our efforts to drive the shift to digital payments in Pakistan and fuel the growth of the country’s digital economy,” said Muhammad Nana, senior vice president, Digital Partnerships, EEMEA, Mastercard.

Consumers can benefit from discounts on their Mastercard transactions: 20% off on Mastercard Gold and Titanium cards with the discount code MC20, and 30% off on Mastercard Platinum, World, and World Elite Cards with the discount code MC30. These benefits are available across all foodpanda verticals, such as food delivery, shopping, grocery, and courier services, encouraging greater adoption of digital payments.

“With high smartphone penetration and robust digital infrastructure, Pakistan is primed for rapid adoption of cashless solutions. Our partnership with Mastercard enables us to accelerate this transformation, turning COD users into active digital consumers. As we serve a significant percentage of the population, this initiative reflects our commitment to innovation and financial inclusion in untapped markets,” said Muntaqa Peracha, CEO, foodpanda Pakistan.

Additionally, Mastercard and foodpanda launched the Payment Switch initiative, aimed at converting COD users to online payments, boosting Mastercard’s reputation as the preferred payment method, and driving customer trials through exclusive vouchers. This feature enhances conversion rates at the crucial decision point of placing orders, thereby encouraging the switch to online payments via Mastercard over COD.
Image by Pakistan Economic Net