Business Credit Cards, Untapped Goldmine for Corporate Growth!

Despite an increasing need for business credit cards in Pakistan, the sector remains largely unexplored, with only two banks currently offering such products. As of October 2024, the country’s outstanding credit card portfolio stood at Rs8.5 billion—just 1% of the total consumer financing portfolio.

With over 67% of bank financing directed toward the corporate sector, significant potential exists to introduce business credit cards that can cater to the financial needs of SMEs and larger corporations. Popular in neighboring countries, these cards can help businesses manage expenses, optimize working capital, and offer perks such as cashback, discounts, and improved financial tracking.

By leveraging fintech partnerships, banks can roll out these products without heavy setup costs while benefiting from revenue streams through transaction and annual fees. Additionally, the increasing shift toward Islamic finance presents opportunities for Shariah-compliant business credit cards, opening new avenues for the banking sector to drive growth.