Pakistan’s Fintech company NayaPay has partnered up with the Visa Fintech Fast Track Program, which will help speed up the process of integration. It will enable NayaPay to enjoy the reach, functionalities, and top-notch security of the Visa Payment network.
NayaPay will have access to the technological infrastructure of Visa that will take NayaPay to a whole new level, boosting the innovation of digital payments in Pakistan.
NayaPay is an Electronic Money Institution meaning it will allow users in Pakistan to transfer money to each other and to businesses through the easy setup of E-Money accounts.
NayaPay will be a one-stop shop for merchants as well as consumers. It will allow the merchants to accept payments locally and can perform transactions with millions of retailers from around the globe not only that but users can withdraw money at any ATM using their NayaPay Visa debit card.
NayaPay will also be launching an app, from which, the user can avail the option of QR code scan allowing them to make payments from their app.
The biggest feature that every freelancer and business owner selling products abroad will surely love, is that with their NayaPay they will be able to receive payments in local banks in Pakistan, thanks to NayaPay’s simplified cross-border money transfer feature.
“Joining Visa’s Fintech Program will surely prove fruitful for the amazing fintech like NayaPay, it will give them access to the best resources and technology to flourish,” said Vice President Fintech and Ventures, Otto Williams. He added “ We are always delegated to offer our resources and technology to the companies such as NayaPay so they can leverage what we have to increase the efficiency and scalability. We are absolutely delegated to welcome NayaPay as part of our program and look forward to working with them to transform the payment solutions in Pakistan.”
“We are equally delighted that we are part of this venture with Visa and happy that Visa took interest in making transactions and financial services easier, convenient, and more importantly accessible to Pakistani users. For the past few months, we have been working on the integration of Visa’s service and technology to deliver what we promised – simpler transactions of citizen’s of Pakistan.” said CEO of NayaPay, Danish Lakhani