Key Points:
- South Korean firm wins $5.6m Pakistan Post contract
- Project implementation scheduled through March 2028
- System aims to support postal financial services
ISLAMABAD: South Korean core-banking software and fintech company Bankware Global has secured a Rs1.57 billion ($5.6 million) contract to build a system and supply software for Pakistan’s postal service.
Bankware Global disclosed the contract in a notice to the Korea Exchange on Tuesday, saying the 7.98 billion won agreement would be implemented through a joint venture.
The project will run from August 7, 2026, to March 6, 2028, and is equivalent to 12.6 per cent of Bankware Global’s total sales in 2025.
Contract covers supply of software for Pakistan Post
The contract covers the development of a system and supply of software for the Pakistan Post Office Department (PPOD), which operates one of the country’s largest public service networks.
Pakistan Post operates around 13,000 post offices and provides domestic and international mail services, remittance facilities, utility bill collection and CNIC renewal services.
Its extensive physical network also gives it a significant role in extending financial and other public services to people in areas with limited access to conventional banking.
The project comes as the PPOD pursues modernisation and greater integration of digital technologies into its operations.
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Bankware Global said the payment terms provide for a 20 per cent advance, with the remaining 80 per cent payment in stages.
Payments will be linked to implementation, inspection schedules for individual sectors, and the commencement of operations and maintenance.
Founded more than 17 years ago, Bankware Global develops component-driven, cloud-native core banking platforms, financial enterprise resource planning systems, card-processing solutions and software-as-a-service banking platforms.
The Seoul-headquartered company provides technology solutions to major financial institutions across Asia, positioning the Pakistan Post project as an expansion of its technology footprint into the country’s public-sector financial and postal services.
Pakistan Post is a state-owned postal service with a nationwide network that has historically served as a key channel for communication and access to basic financial services, particularly in areas where commercial banking facilities are limited.
Its operations extend beyond traditional mail delivery to include money transfers, savings, and other financial services, bill collection and selected government-related services.
The postal service is now pursuing modernisation and greater integration of digital technologies as changing consumer behaviour and the growth of electronic payments reshape the traditional postal sector.
The new technology project is expected to support this broader effort to modernise its systems and services.
