KARACHI: Paymob and 1LINK have announced a partnership agreement to power instant online payouts for merchants registered with Paymob via 1LINK’s payment infrastructure, with Bank Alfalah Ltd serving as its settlement bank.
This partnership represents a unique and novel offering to merchants in Pakistan by creating end-to-end digital payments acceptance mechanism integrated with Paymob’s exclusive payout solution suite.
To this effect, merchants will be able to instantly transfer funds via Paymob’s platform directly into any 1LINK member/bank account across Pakistan. This process equips merchants to make swift payments to their vendors and suppliers, thereby digitizing cash payments in their supply chain. Additionally, Paymob merchants will be able to pay utility companies, telecom operators, and numerous other businesses via 1LINK.
On this development Najeeb Agrawalla CEO 1LINK said that this strategic partnership will allow a one window solution to Paymob merchants for sending payments domestically. This business proposition will promote cashless payments for Paymob App users thus contributing towards the digital ecosystem. We look forward to a long-term partnership with Paymob in future, he added.
Fawad Abdul Kader Paymob Country Manager in Pakistan has said that partnering with 1LINK unpacks the digital payment infrastructure for Paymob to create use cases for smooth enablement of financial services for our merchants. It will provide us with access to 1LINK’s expansive network of banks/members and services that will open up possibilities for further alliances and strategic synergies to digitize unique use cases.
Democratizing the merchant’s payment acceptance and payouts journey as one seamless experience advances the State Bank of Pakistan’s goal of enhancing the digital ecosystem in the country.
As Middle East, North Africa and Pakistan (MENA-P) fastest-growing fintech, Paymob is committed to enabling SMEs and entrepreneurs to take control of growing their businesses by providing a 360-solution suite. This strategic partnership between 1LINK and Paymob will further widen the spectrum of financial inclusion and developing digital-first solutions in the country.
Copyright Business Recorder, 2023
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