Pakistan’s banking sector is moving rapidly toward digitalization, yet accessing corporate credit cards remains a major challenge for businesses.
The Securities and Exchange Commission of Pakistan (SECP) has signed agreements with Askari Bank and fintech platform NayaPay to simplify corporate account opening. Similar partnerships exist with Mobilink Microfinance Bank, Easypaisa Bank, Mashreq Bank, and Raqami Islamic Digital Bank.
Despite these efforts, business owners report delays and heavy documentation requirements. Many say bank staff are often unresponsive, making the process frustrating.
“Accounts get opened eventually, but delays are common, and calls are often unanswered,” said a Karachi-based investor. He added that launching corporate credit cards requires significant investment, while banks earn less revenue than with individual credit cards.
Corporate credit cards also lack proper integration with company accounts, reducing their practicality for business operations. In contrast, personal credit cards are widely available and quickly approved, making them easier for individuals to access.
Banks cite stricter compliance requirements and smaller market size as reasons for slow corporate card issuance. Fewer than 30,000 companies are eligible, making the market less attractive commercially.
Experts also note that while Pakistan has digitized company registration and financial infrastructure, banking practices have not fully adapted. This limits the benefits of digital onboarding for businesses seeking credit cards.
Askari Bank, Faysal Bank, and Alfalah are reportedly the slowest in processing corporate credit card applications. Standard Chartered Pakistan performs slightly better but still faces delays due to high compliance standards.
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Until banks align their services with regulatory reforms, many startups and private companies will continue facing difficulties in accessing corporate credit cards. The challenge now lies not in registering a company but in navigating the banking system to obtain essential financial tools.
