Karachi: The State Bank of Pakistan (SBP) has officially notified 1LINK (Private) Limited as a designated payment system (DPS) under Section 4(1) of the Payment Systems and Electronic Funds Transfer Act, 2007.
The notification, issued through a circular from the central bank, formalises the role of 1LINK in Pakistan’s digital payment ecosystem. The company, which operates the country’s largest interbank network, will now function as a DPS with expanded responsibilities to ensure stability, integrity, and interoperability in the financial system.
In a statement on Monday, 1LINK said the DPS status underscores its central role in supporting Pakistan’s financial infrastructure. “As a DPS, 1LINK will continue to work closely with SBP, financial institutions, and fintechs to strengthen consumer confidence and drive the shift towards a more inclusive and digitally connected economy,” the company said.
It added that the new designation enhances its responsibility to ensure resilience and security in payments, while also enabling it to expand its footprint in innovation and business growth.
The SBP’s move is seen as part of broader efforts to strengthen oversight of payment systems and accelerate Pakistan’s transition towards digital finance.
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