NayaPay, a Pakistan-based financial platform, has partnered with Alipay+, a cross-border digital payments and marketing platform operated by Ant International, to boost global payments into Pakistan.

The duo said in a statement on Wednesday that the collaboration between NayaPay and Alipay+ is set to make a significant impact by deploying QR codes compatible with both RAAST and Alipay+ payment partners, including e-wallets and bank apps, thereby enhancing incoming foreign exchange flows and integrating the cashless payment systems of global markets and Pakistan.

According to the statement, this strategic alliance is specifically designed to streamline digital payments, tackling prevalent issues such as limited interoperability and elevated transaction costs.

The duo said that through this partnership, NayaPay is well-positioned to provide Pakistani businesses of all sizes, particularly small and medium-sized enterprises (SMEs), with a seamless connection to more than 25 Alipay+ global payment partners, which reaches a total of more than 1.5 billion consumer accounts, in addition to RAAST.

They said this initiative ensures that transactions are not only efficient but also secure, marking a major step forward in the digitization of commerce in Pakistan.

Furthermore, they said this partnership is anticipated to empower businesses in Pakistan to transact seamlessly with global visitors through a low-cost and fast payment system.

They also said this will foster documented and cashless trade and tourism between the two countries.

This initiative is also in line with the State Bank of Pakistan’s vision for the nation’s economic advancement and digital evolution, setting a new benchmark in the region’s
financial sector, they added.

NayaPay, the first E-Money Institution in Pakistan, is a fintech platform empowering underserved consumers and small and medium-sized businesses (SMBs) with better access to financial services.

The firm has built a community of students, freelancers, and digital natives for its consumer proposition — a chat-led super app accompanied by free Visa Virtual and physical cards.

Any Pakistani citizen can open a NayaPay wallet on their smartphone in minutes and use the app to make everyday payments, send and receive money, split bills, and much more.

For entrepreneurs, NayaPay offers access to business accounts, universal payment acceptance and powerful financial management tools with an easy-to-open e-money account and Visa debit cards.

NayaPay is authorized and regulated by the State Bank of Pakistan as an Electronic Money Institution.

Alipay+ is a suite of cross-border digital payment, marketing and digitalization solutions that help connect global merchants to consumers.

Consumers enjoy seamless payment and a broad choice of deals using their preferred payment methods while traveling abroad.

Small and medium-sized businesses may use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.

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