Saturday, July 20, 2024

Paymob and Easypaisa Drive Digital Payment Acceptance in Pakistan

Paymob, the leading omnichannel financial services enabler in the Middle East, North Africa, and Pakistan (MENA-P), and easypaisa, Pakistan’s leading digital payments platform, have announced that they have partnered to process easypaisa digital wallet payments through Paymob’s payment infrastructure, accelerating digital payment acceptance in the country.

The agreement will enable merchants in Paymob’s network to accept fast, easy, and secure digital payments from easypaisa’s customer base of over 14 million monthly active users across Pakistan. The integration will vastly expand the potential addressable market for businesses on Paymob’s network while serving to make digital payments more accessible to unbanked consumers. This strategic partnership will advance the State Bank of Pakistan’s goal of driving inclusive economic growth while also promoting e-commerce in the country. According to a report published by the State Bank of Pakistan, 53% of the population is without access to formal financial services. Digital wallets boost financial inclusion by enabling financially-excluded segments to actively participate in the digital economy.

Fawad Abdul Kader, Paymob’s Country Manager in Pakistan commented, “We are extremely pleased to be joining hands with a leader in Pakistan’s Fintech industry. Together, we have set off on a journey to empower 100,000 SME merchants across Pakistan and guide them in bridging the financial access gap, one digital payment at a time. This partnership is yet another transformational milestone for the ecosystem and we are excited to disrupt the country’s payment landscape.”

M. Mudassar Aqil, CEO Telenor Microfinance Bank & easypaisa said, “Technology and collaboration have been the driving forces behind the rapid advancement of digital finance in recent years, providing solutions that simplify our lives. At easypaisa, we are committed to promoting financial inclusivity by developing innovative solutions for individual customers as well as small businesses through our open platform. Together with Paymob, our partnership is well-suited to move another step closer towards realizing the dream of a financially inclusive Pakistan.”

Paymob is committed to serving small and medium-sized enterprises (SMEs) by simplifying the process of managing and growing businesses through access to the most innovative and modern financial technologies. The partnership between Paymob and easypaisa will empower merchants to accept digital payments that will serve to boost their profitability while making e-commerce accessible to a broader segment of the population in Pakistan.

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