Digital wallet payments: Paymob and easypaisa enter partnership deal

KARACHI: Paymob, the leading Omni channel financial services enabler in the Middle East, North Africa and Pakistan (MENA-P) and easypaisa, 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 together, Paymob and easypaisa 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, he added.

Mudassar Aqil, CEO Telenor Microfinance Bank & easypaisa said that technology and collaboration have been the driving forces behind the rapid advancement of digital finance in recent years, providing solutions that simplify our lives.

Copyright Business Recorder, 2023