SafePay, the Karachi-headquartered fintech company, has entered into an agreement partnership with Euronet Pakistan to rapidly develop the local payments ecosystem, offer digital payment solutions to Pakistani retail businesses & SMEs and create a financially inclusive Pakistan.
Euronet Worldwide (NASDAQ: EEFT) is an industry leader in processing secure electronic financial transactions and serves clients in approximately 170 countries.
Safepay, being a regulated payment service provider (PSP) by the State Bank of Pakistan, allows businesses to provide their local and international customer base with appropriate digital payment options whether via their website or other mediums.
Commenting on the partnership, Chief Business Officer SafePay Ms Iman Urooj, said, “Online commerce is increasing day by day as Pakistanis are moving online to transact locally and internationally. The current local online payment experience ranging from merchant onboarding to transaction acceptance rates is unacceptable for a truly digital Pakistan.”
The signing ceremony took place on 6 April 2022 between Kashif Gaya, CEO Euronet Pakistan, and Founders of Safepay, Ziyad Parekh and Raza Naqvi, at an event held in Karachi.
This partnership will enable Euronet Pakistan to act as Safepay’s e-commerce and card acquiring processor and will provide Safepay, with eCommerce payment rails with Merchant Management Solution that will allow merchants convenient online card payments for their businesses.
Safepay in collaboration with Visa and Euronet will be offering secure payment solutions for businesses across Pakistan. Euronet will act as the processor between Safepay’s PCI-compliant payment solution and the global payment networks.
Speaking on the collaboration, CEO Euronet Pakistan Mr Kashif Gaya, said, “We are excited to be selected as the technology processor by Safepay and we look forward to supporting them play a key role in the growth of the e-commerce market in Pakistan.”
Sharing his view on the ceremony, Co-Founder of Safepay Mr Ziyad Parekh, said, “We look forward to a long-term partnership with Euronet, an industry leader in card processing in Pakistan.”
He further added, “This partnership enables Safepay to provide merchants with multiple online payment options while allowing Euronet’s tech infrastructure to manage overall card payments.”
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