AKISTAN has dozens of banks, each with its own systems and infrastructure. The reason a cardholder at one institution can withdraw cash from another bank`s ATM, transfer funds in real time to accounts at other banks or wallets, or settle a bill through any banking application is interoperability. At the scale at which Pakistan`s financial system operates, that requires a trusted switch at the center, which is 1LINK. Owned by a consortium of 11 major banks and the country`s first fully licensed Payment System Operator and Payment Service Provider, 1LINK connects banks, non-banking financial institutions, billers, billing aggregators, fintechs, merchants, and government platforms into a single interoperable network.

In 2025, 1LINK processed transactions worth Rs75.4 trillion, with a volume of more than 10 billion transactions, up from Rs60.6 trillion and 8.2 billion the year prior, representing growth of nearly 24 per cent by value and 22 per cent by volume. Projections for 2026 point further upward, with throughput forecast at Rs86.4 trillion and volumes at 11.5 billion. The longer arc is equally telling: between 2018 and 2025, throughput by value grew at a CAGR of 52.7 per cent, andvolumes at 50.5 per cent, reflecting a sustained structural migration towards formal digital channels.

That confidence has been formally recognised. In August 2025, the State Bank of Pakistan designated 1LINK as a Designated Payment System, a classification reserved for entities critical to national financial stability. It reflects a relationship spanning more than two decades, and the same institutional trust that led the State Bank to mandate 1LINK to develop PayPak in 2016.

1LINK`s reach extends across several service lines. 1IBFT facilitates real-time interbank fund transfers around the clock.

1BILL aggregates more than 5,000 billers onto a single platform, enabling consumers to settle utility charges, telecom bills, insurance premiums, and government levies through any connected banking application. 1GO, in alliance with Raast, provides a QR-based payment method for retail transactions. The Sohni Dharti Remittance Program incentivises overseas Pakistanis to route remittances through formal banking channels, with the ability to accumulate and redeem points against inflows.

At the volumes 1LINK handles, security is foundational.

The company holds ISO/IEC 27001:2022 compliance and its15th consecutive PCI DSS certification. Its Personalisation Bureau manages the full production lifecycle of PayPak, Mastercard, and UnionPay EMV cards, from chip preparation to embossing and automated fulfillment.

1LINK is playing a major role in Pakistan`s cashless initia-tives, offering centralised capabilities such as card production, security operations, and f raud risk management to lower costs and reduce duplication across the system. It is also actively exploring how emerging technologies can be integrated as Pakistan`s regulatory environment continues to evolve. •