Lahore: The Ravi Urban Development Authority (RUDA) on Thursday signed an agreement with Mastercard (an American multinational financial services corporation) to transform Ravi Riverfront into a cashless economic zone, according to media reports.
As per the details, the agreement will promote digital transformation in the country. Under this initiative, the multinational company will implement smart city solutions in the Ravi Riverfront Urban Development Project (RRUDP), which will enable the merchants, authorities, and residents to seamlessly connect via digital channels.
Moreover, the residents will also be able to pay utility services, bills, and make payments through automated portals. It was disclosed that RUDA will be able to offer efficient services including fee collection and other administrative services. Through this partnership, RUDA and Mastercard will transform urban areas into livable, well-managed, and sustainable communities. Also, it will assist in setting up a cashless framework within the community.
According to Mastercard Division President Middle East and North Africa Khalid Eligibali, Pakistan has the power of digital payments and Mastercard is dedicated to driving digital transformation in the county.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
