It’s good news for those in Pakistan who do their payments digitally as NayaPay in collaboration with Visa Fintech, has partnered up to fast-track digital payments in the country. NayaPay has joined the Visa Fintech Fast Track program to speed up the payment company’s integration process with Visa. This will, in result, enable NayaPay to leverage the reach and capabilities of the Visa global payments network. It’ll also leverage the security of Visa worldwide payment company
NayaPay in collaboration with the Fast Track Program can then access Visa’s growing partner network, resources, and technology to speed up the revolution in digital payments in Pakistan. NayaPay, being an Electronic Money Institution (EMI) will also let users open e-money accounts in just minutes. And also will let users make smooth digital payments to each other and to business too.
Benefits of NayaPay collaboration with Visa
With this collaboration, NayaPay consumers and merchants can use their NayaPay Visa debit cards easily. They can use their cards to perform online and in-store transactions with thousands of retailers globally. Along with that, they can withdraw cash conveniently at any ATM located within the country. Moreover, with the NayaPay Visa debit card, customers can also scan Visa merchant QR codes to make transactions directly through their app.
Not only this, but NayaPay will also be leveraging Visa Direct for another reason. It will be basically to simplify cross-border money transfers. This will be a great initiative for all freelancers and other Pakistan based businesses that work with international clients. And also for those people receiving payments from their families abroad.
Danish Lakhani, CEO of NayaPay at this partnership shares his views:
We are delighted to have found a partner in Visa that shares our goals of making financial services simpler, more convenient, and accessible to Pakistani users. The needs of whom have been overlooked for far too long. Over the past few months, we have been integrating Visa’s offerings to reinforce our issuing and acquiring capabilities and to deliver on our promise of becoming a part of citizens’ daily lives.
Through this collaboration between NayaPay and Visa Fintech, users will be able to accept funds directly and instantly into their NayaPay wallets. Users will be able to accept money from over a billion Visa cards across the world. To conclude, this partnership will be of great advantage for Pakistani freelancers, businesses, and common people. With this, people will be able to easily make transactions within the country and abroad too.
Ayesha Khan is a Content Writer and Digital Marketer at Codematics Inc. She has done her BS in Electronic Engineering. In her free time, you can find her cooking meals, reading books or watching Kdramas. Search for her articles under the hashtag #AKArticle on LinkedIn and Twitter.