The Bank of Punjab has launched Pakistan’s first Mastercard World Elite credit and debit cards, giving Pakistani customers access to one of the world’s most premium card tiers through a local bank. The launch was reported on 4 November 2026, and it covers both credit and debit cards, so customers with different payment preferences can use the same premium offering.
The Bank of Punjab Mastercard World Elite cards bring together global payment acceptance with premium travel, dining, lifestyle and entertainment benefits. For customers who travel abroad, shop online from international stores or simply want more from their everyday spending, the cards promise a level of service that has previously been hard to find from a Pakistani bank.
What the World Elite cards offer
World Elite is Mastercard’s top card tier, and the new Bank of Punjab Mastercard World Elite cards carry the benefits that come with it. Cardholders get premium travel, dining, lifestyle and entertainment benefits, along with acceptance for payments around the world. The cards are aimed at people who want their bank card to do more than move money — they want airport lounges, dining privileges, exclusive experiences and the confidence that their card will work wherever they travel.
The launch covers both credit and debit cards. That matters because it broadens the offering: customers who prefer to spend from their own balance and customers who prefer credit can both get the same World Elite benefits. The bank says the combination of global acceptance and premium benefits brings greater value to everyday spending as well as international travel.
Why the Bank of Punjab says the launch matters
The Bank of Punjab says the launch builds on its growth into Pakistan’s largest credit card issuer, even though it entered the card market later than established players. That claim is central to how the bank is presenting the launch — not as a one-off product, but as the next step in turning its card growth into a broader choice of payment products for customers.
Zafar Masud, President and Chief Executive Officer of the Bank of Punjab, said the bank’s growth to become Pakistan’s largest credit card issuer, despite entering the market later than established players, reflects its commitment to innovation and customer experience. He described the launch of Pakistan’s first Mastercard World Elite credit and debit cards as another milestone in the bank’s transformation and its ambition to set new benchmarks in premium banking.
For the bank, the launch also fits a wider transformation agenda in which digital innovation and customer experience sit at the centre of product development. Business Recorder described the launch as the next step in turning the bank’s card growth into a broader choice of payment products.
What Mastercard brings to the deal
For Mastercard, the launch deepens a partnership with the Bank of Punjab that has already run for years. The collaboration brings together the bank’s customer relationships and banking capabilities with Mastercard’s international payments network and its World Elite offering.
Mark Elliott, Division President for East Arabia at Mastercard, said the company was delighted to deepen its partnership with the Bank of Punjab through the launch. He said World Elite brings together innovative payment technology, global connectivity and differentiated lifestyle experiences, and that the launch reflects a shared commitment to elevating customer experiences and supporting the evolution of Pakistan’s payments ecosystem.
The deal also fits Mastercard’s wider push across Pakistan’s banking sector. In recent months the company has signed new digital-payments partnerships with several Pakistani banks, and the Bank of Punjab launch is the latest step in that expansion.
A partnership years in the making
The Bank of Punjab and Mastercard have worked together since December 2024, when they announced a partnership to upgrade the bank’s digital banking services, loyalty programmes and card offerings. Under that partnership, customers of the bank’s KHAAS priority banking programme gained access to Mastercard’s World and World Elite cards, and the two sides also worked on Islamic credit cards for customers who want Sharia-compliant products.
The partnership has produced several firsts for the bank. In 2023 the two companies launched a freelancer digital account and card with the Pakistan Software Export Board, aimed at gig workers in the IT sector. The Bank of Punjab also became the first bank in Pakistan to issue Mastercard SME cards, serving the country’s millions of small businesses and freelancers. The partners have also worked on the Kissan Card, which gives small farmers interest-free loans through Mastercard credit cards.
Mastercard’s activity in Pakistan has accelerated through 2026. The company expanded its partnership with the Bank of Punjab in July, signed a strategic partnership with the Bank of Khyber in September, and announced a digital-payments deal with BankIslami in October. The World Elite launch sits at the premium end of that same push.
What customers still do not know
For all the detail in the launch reports, some practical questions remain unanswered. The reports do not give the fees for the new cards, the eligibility rules for applicants, or a start date for applications. Customers who want one of the new Bank of Punjab Mastercard World Elite cards will need to check with the bank directly for those details.
What is clear is that Pakistani customers can now get a World Elite card — in both credit and debit form — from a local bank, with premium travel, dining, lifestyle and entertainment benefits and payment acceptance around the world. For a market where premium cards have long been the preserve of a small number of banks, that is a meaningful change, and the Bank of Punjab is betting that its card customers will want it.
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