Pakistani fintech grabs USAID Innovation Grant to digitize MSMEs

Pakistan’s fintech, PayPro that specializes on B2B and B2C payments, was awarded a Rs 7.473 million Innovation Grant by the USAID Small and Medium Enterprise Activity (SMEA) to digitize the MSMEs (Micro, Small and Medium sized Enterprises) who’re looking to collect payments through digital channels.

As per details, the grant will allow PayPro to facilitate the development of its marketplace platform with integrated digital commerce solution for MSMEs, which will include a merchant portal as well as a mobile wallet for users to manage their personal finances, enabling a seamless experience for the Pakistani consumer.

Speaking on the occasion, Ali Janjua, the Chief Executive Officer of PayPro Pvt. (Ltd.) stated; “Digital finance has become the cornerstone for progressive economies as a strong reminder that in order to be sustainable, transactions have to be conducted through digital channels, especially with the COVID-19 pandemic in the equation. As customers in Pakistan begin to accept the new normal, PayPro is making sure to provide them with the tools necessary to perform a diverse range of financial transactions based on their day to day routine lives.”

Launched in September 2019, PayPro has processed approximately 70,000 transactions valued at more than Rs1 billion in throughput to date.

The CEO added, “the USAID Small and Medium Enterprise Activity (SMEA) Innovation Grant is a testament to the efforts and the potential that the organization has displayed since its inception.”