Head of Cards and Payments (VP-SVP)

The Head of Cards and Payments at HugoBank will lead the entire Cards and Payments domain, encompassing credit and debit cards (secured and unsecured), consumer and merchant QR payments, and instant-payment rails such as Raast and 1LINK. This role spans both Retail and Merchant & Business Banking segments and involves setting the strategic direction, managing the P&L, and representing the domain at the executive level. The position requires close collaboration with Technology, Risk, Compliance, Finance, and external partners including card schemes, processors, and payment infrastructure providers. The incumbent will unify the cards and payments agenda to serve individual customers and merchant/business clients with a consistent rail strategy, risk posture, and financial oversight.

Key Responsibilities

Product Strategy & Proposition Development:
Develop and own the end-to-end strategy for HugoBank’s Cards and Payments domain across both Retail and Merchant & Business Banking. Define differentiated value propositions such as consumer card rewards and merchant QR acceptance incentives. Lead market and competitor benchmarking to identify opportunities specific to Pakistan. Manage a consolidated product roadmap ensuring a unified rail and infrastructure strategy. Represent HugoBank in negotiations with card schemes (Visa, PayPak), payment bodies (Raast, 1LINK), and processors.

Product Design, Development & Implementation:
Translate product strategy into detailed business requirements and oversee delivery with Technology and Operations. Lead development of new features, loyalty programs, and digital enhancements for card and QR/payment experiences. Manage vendor and processor relationships for card issuance, tokenization, personalization, and payment infrastructure. Oversee testing, user acceptance, and post-launch monitoring. Conduct periodic reviews of customer and merchant journeys to identify and resolve friction points. Ensure performance and uptime of instant-payment rails and lead innovation in tokenization, contactless payments, and AI-driven credit scoring.

Portfolio Management & Performance Optimization:
Manage portfolio health across consumer and merchant cards and payments, focusing on activation, utilization, delinquency, transaction volume, and profitability. Drive initiatives to increase spend, retention, and cross-sell opportunities. Develop strategies to migrate secured customers to unsecured credit cards and grow merchant QR adoption. Own the consolidated Cards and Payments P&L, collaborating with Finance to optimize revenue and costs. Lead campaigns that enhance product engagement and partner with Lending to integrate transaction data into credit decisioning.

Governance, Risk & Compliance:
Ensure compliance with State Bank of Pakistan regulations and internal risk policies. Lead engagement with Compliance and Legal for documentation, disclosures, and product approvals. Support fraud monitoring and dispute resolution frameworks. Conduct periodic risk reviews and implement corrective actions.

Cross-Functional Collaboration & Stakeholder Management:
Serve as the senior accountable owner for cards and payments across Technology, Credit Risk, Operations, Finance, and Customer Experience. Build and lead a cross-functional team supporting both Retail and Merchant & Business segments. Represent the domain in executive forums and partner with Marketing on go-to-market campaigns and customer education.

Secondary Responsibilities:
Participate in cross-departmental workshops, oversee resolution of escalated service issues, ensure reconciliation accuracy, prepare regulatory submissions, and review marketing materials for compliance.

Required Qualifications

- Bachelor’s degree in Business Administration, Finance, Economics, or related field from a recognized institution is mandatory; Master’s degree (MBA or equivalent) preferred.
- Minimum 10 years of progressive experience in Cards, Payments, or Digital Banking, including at least 2 years in a senior role with P&L ownership and cross-functional management.
- Proven track record of building and scaling cards and payments portfolios with end-to-end product and financial accountability.
- Strong knowledge of SBP regulatory frameworks related to cards, payments, and consumer/merchant protection, including experience with direct regulator engagement.
- Experience negotiating and managing relationships with card schemes (Visa, PayPak, Mastercard, Union Pay), third-party processors, and instant-payment infrastructure (Raast, 1LINK).
- Background in banks, fintechs, or card-issuing/payments institutions with demonstrated people leadership managing product, design, or commercial teams.

Preferred Qualifications and Benefits
While not explicitly stated, preference is given to candidates with prior leadership experience in product and commercial roles within the payments ecosystem, and those familiar with innovation in tokenization, contactless payments, and AI-driven credit scoring.

This role offers the opportunity to shape HugoBank’s cards and payments strategy at a senior level, driving innovation and growth in a dynamic financial services environment.