Easypaisa, a leading digital wallet provider in Pakistan, has partnered with Fintech firm PayFast, in order to accelerate the adoption of digital payments in the country.
Through the partnership, Easypaisa digital wallet users will be able to make online payments using PayFast’s local payment gateway. The initiative’s pilot phase has reportedly been approved by the State Bank of Pakistan (SBP), the nation’s central bank.
As mentioned in a release, PayFast will support multi-instrument acceptance of locally-issued scheme cards. Payments may be processed via mobile wallets and regular bank accounts as well.
Anyone with a smartphone may download the Easypaisa App and then set up their digital wallet within minutes, in order to conveniently make digital payments. The Easypaisa wallet service is connected to the 1-Link switch which is used for facilitating inter-bank money transfers. Customers also have the option to get an Easypaisa debit card which may be used for making cash withdrawals at any ATM in Pakistan. The card may also be used for making payments at various local retail outlets.
Last month, EasyPaisa teamed up with the Rawalpindi Chamber of Commerce and Industry to support virtual payments.
Through the partnership, local businesses or companies will be able to make online payments via Easypaisa, which should help promote the adoption of digital platforms and services, an area that’s being led by the Digital Pakistan initiative.
As reported in April 2020, EasyPaisa announced that it would help the Pakistani government and its agencies with distributing funds following the COVID-19 outbreak. In March 2020, EasyPaisa partnered with Seed Out, a Pakistani crowdfunding platform, in order to digitize payments collection.
In January 2020, Payoneer teamed up with EasyPaisa competitor JazzCash to allow Pakistani freelancers to easily withdraw international payments.