PayPak, Pakistan’s first domestic payment scheme launched by 1LINK, is set to introduce an innovative Loyalty Program for its customers with TPL Life as the Family Takaful coverage provider.
Following the partnership, TPL Life, a leading InsurTech in Pakistan will provide complimentary Family Takaful coverage to all new and existing PayPak card holders of Islamic accounts. With the PayPak loyalty program, customers will not only enjoy a range of deals and discounts with over 12,500+ merchants nationwide, but also have the added benefit of free Takaful coverage up to Rs. 100,000 in case of death, including accidental and natural causes.
The move is in line with TPL Life’s vision of being at the forefront of Pakistan’s digital insurance revolution, whether in the form of going first to market with innovative insurance/takaful offerings, or by making insurance/takaful accessible to the average Pakistani through the use of technology.
Commenting on the partnership, Faisal Abbasi, CEO, TPL Life said, “As a true Insurtech, we believe in introducing and supporting technologically enabled innovative insurance/takaful solutions and our partnership with PayPak is a step in the same direction. In today’s fast paced world, providing multiple options, convenience and ease of usage establishes the basis of value addition for customers. I am confident that our partnership with 1LINK will help both the companies achieve significant milestones in the future.”
Mr. Najeeb Agrawalla – CEO, 1LINK commented, “1LINK is dedicated to digitizing the payments ecosystem by offering payment solutions that are beneficial for all. PayPak, as one of the catalyst forces in the domestic payments industry, is playing an instrumental role in furthering the agenda. We are pleased to collaborate with TPL Life for provision of takaful coverage to customers of Islamic banks and Islamic windows of conventional banks as part of the PayPak loyalty program. We hope that this program will foster an enhanced value offering for PayPak cardholders making it their card of choice”.