SBP Appoints 1LINK As Designated Payment System Operator

The State Bank of Pakistan (SBP), under the powers conferred by Section 4(1) of the Payment Systems & Electronic Funds Transfer Act, 2007, has officially notified 1LINK (Private) Limited as a Designated Payment System (DPS). As a DPS, 1LINK will continue to work closely with the SBP, financial institutions, and fintechs to strengthen consumer confidence and accelerate the shift toward a more inclusive and digitally connected economy. The DPS status further enhances 1LINK’s responsibility to ensure resilience and security in payments, while also enabling it to expand its role in innovation and business growth. 1LINK (Pvt) Limited, owned by a consortium of 11 banks, is the country’s first PSO/PSP and now the first Designated PSO/PSP. It is also the largest switch and payment system, offering a wide range of online banking services, including ATM switching, the 1BILL billing platform, Inter-Bank Funds Transfer (IBFT), Fraud Risk Management, Switch Dispute Resolution, International Payment Schemes, PayPak (the domestic payment scheme), and the Sohni Dharti Remittance Program.