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 a strategic partnership to process easypaisa digital wallet payments through Paymob’s payment infrastructure. This collaboration aims to accelerate digital payment acceptance in Pakistan, a country with a large unbanked population.
Expanding the Addressable Market and Promoting Financial Inclusion
The agreement between Paymob and easypaisa 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. This integration will vastly expand the potential addressable market for businesses on Paymob’s network while also making digital payments more accessible to unbanked consumers.
Advancing Economic Growth and E-commerce in Pakistan
This partnership aligns with the State Bank of Pakistan’s goal of driving inclusive economic growth and promoting e-commerce in the country. According to a report published by the State Bank of Pakistan, 53% of the population lacks access to formal financial services. Digital wallets play a crucial role in financial inclusion by enabling financially-excluded segments to actively participate in the digital economy.
Empowering SMEs and Transforming the Payment Landscape
Fawad Abdul Kader, Paymob’s Country Manager in Pakistan, expressed his excitement about joining hands with easypaisa, a leader in Pakistan’s Fintech industry. Together, they aim to empower 100,000 SME merchants across Pakistan and bridge the financial access gap, one digital payment at a time. This partnership represents a transformational milestone for the ecosystem, disrupting the country’s payment landscape.
Promoting Financial Inclusivity with Innovative Solutions
M. Mudassar Aqil, CEO of Telenor Microfinance Bank & easypaisa, emphasized the role of technology and collaboration in advancing digital finance. easypaisa has committed to promoting financial inclusivity by developing innovative solutions for individual customers and small businesses through its open platform. The partnership with Paymob brings them one step closer to realizing the dream of a financially inclusive Pakistan.
Serving SMEs and Making E-commerce Accessible
Paymob has dedicated to serving small and medium-sized enterprises (SMEs) by simplifying business management and growth through innovative financial technologies. The partnership with easypaisa empowers merchants to accept digital payments, boosting their profitability, and making e-commerce accessible to a broader segment of the Pakistani population.
By joining forces, Paymob and easypaisa are poised to revolutionize digital payments in Pakistan, enabling greater financial inclusion and propelling the country towards a more inclusive and digitized economy.