NayaPay, a financial platform, has joined forces with Alipay+, a digital payments and marketing platform, aiming to enhance digital payment services within the country.
The collaboration between NayaPay and Alipay+ is positioned to make a significant impact by introducing QR codes compatible with both RAAST and Alipay+ payment partners, encompassing e-wallets and banking applications. This integration aims to strengthen incoming foreign exchange streams and merge the cashless payment systems of global markets with those of Pakistan. According to a statement from the financial platform, this strategic partnership is aimed at streamlining digital payments, addressing prevalent challenges such as limited interoperability and high transaction costs.
Through this collaboration, NayaPay, well-equipped to serve businesses of all sizes, will be able to establish a seamless connection with over 25 global payment partners of Alipay+, benefiting more than 1.5 billion consumer accounts. This initiative ensures that transactions are not only efficient but also secure, marking a significant advancement in Pakistan’s digital commerce landscape.
Envisioned to empower businesses in Pakistan to conduct seamless transactions with global visitors through a cost-effective and rapid payment system, this initiative is in line with the State Bank of Pakistan’s vision for the nation’s economic advancement and digital transformation. The statement further emphasizes that this initiative sets a new benchmark in the financial sector of the region.
