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 senior leadership role is responsible for setting the strategic direction and managing the P&L for cards and payments across both Retail and Merchant & Business Banking segments. The role involves representing the domain at the executive level, collaborating closely with Technology, Risk, Compliance, Finance, and external partners including card schemes, processors, and payment infrastructure providers. The incumbent will unify the cards and payments strategy, risk posture, and financial performance to serve both individual customers and merchant/business clients consistently.

Key Responsibilities

Product Strategy & Proposition Development
Develop and own the end-to-end strategy for HugoBank’s Cards and Payments domain, aligned with the bank’s financial inclusion and lending-first vision. Define differentiated value propositions for Retail and Merchant & Business segments, including consumer card rewards, QR/payment incentives, and merchant QR acceptance and working-capital-linked offerings. 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 and partnerships with card schemes (Visa, PayPak), payment infrastructure bodies (Raast, 1LINK), and processors.

Product Design, Development & Implementation
Translate product strategies into detailed business requirements and oversee delivery with Technology and Operations teams. Lead the development of new features, loyalty programs, and digital enhancements for both consumer and merchant cards and payments. Manage vendor and processor relationships for card issuance, tokenization, personalization, and payment infrastructure partnerships. Oversee testing, user acceptance, and post-launch monitoring to ensure smooth product rollouts. Continuously review customer and merchant journeys to identify and address friction points. Drive innovation in tokenization, contactless payments, QR/instant-payment solutions, and AI-driven credit scoring.

Portfolio Management & Performance Optimization
Own portfolio health metrics such as activation, utilization, delinquency, transaction volume, and profitability for both segments. Develop initiatives to increase spend, retention, and cross-sell opportunities using customer and merchant insights. Strategize to migrate secured customers to unsecured credit cards and expand merchant QR adoption. Manage the consolidated Cards and Payments P&L in partnership with Finance, focusing on revenue streams and cost control. Lead campaigns that enhance product engagement and collaborate with Lending to integrate transaction data into credit decisioning.

Governance, Risk & Compliance
Ensure full compliance with State Bank of Pakistan regulations, consumer and merchant card/payment guidelines, and internal risk policies. Coordinate with Compliance and Legal teams on documentation, disclosures, and product approvals. Support fraud monitoring, chargeback, and dispute resolution frameworks. Conduct regular risk reviews, identify control gaps, and implement corrective measures.

Cross-Functional Collaboration & Stakeholder Management
Serve as the senior accountable leader for cards and payments across internal functions including 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 leadership forums and partner with Marketing to design go-to-market campaigns, customer education, and lifecycle communications.

Secondary Responsibilities
Participate in cross-departmental and executive workshops, providing strategic input. Oversee resolution of escalated customer and merchant service issues related to cards and QR/payment products. Ensure reconciliation accuracy for transactions, fees, and commission payouts. Manage preparation of regulatory submissions and compliance reports. Review and approve marketing materials in coordination with Compliance.

Key Performance Indicators (KPIs)
Measure success through consolidated P&L contribution, activation rates, transaction volumes, merchant acceptance growth, spend per active user, dormancy rates, delinquency, and credit-loss rates. Track regulatory and audit findings and ensure timely closure.

Required Qualifications
Bachelor’s degree in Business Administration, Finance, Economics, or a related field from a recognized institution is mandatory. A Master’s degree (MBA or equivalent) is preferred. At least 10 years of progressive experience in Cards, Payments, or Digital Banking, including a minimum of 2 years in a senior role with P&L ownership and cross-functional commercial management. Proven track record in building and scaling cards and payments portfolios with end-to-end product and financial accountability. Familiarity with SBP regulatory frameworks and direct engagement experience with regulators. Experience managing relationships with card schemes (Visa, PayPak, Mastercard, Union Pay), third-party processors, and instant-payment infrastructure (Raast, 1LINK). Prior leadership experience managing teams of product, design, or commercial professionals is strongly preferred.

No specific benefits were mentioned in the original description.