The quickly growing banking platform NayaPay has collaborated with Ant International’s Alipay+, a cross-border digital payments and marketing platform.
The goal is to boost global payments to Pakistan. By carrying out QR codes viable with both RAAST and Alipay+ payment partners, for example, e-wallets and bank applications, the partnership between NayaPay and Alipay+ is supposed to have a significant effect.
This will further develop approaching unfamiliar trade streams and coordinate Pakistan’s cashless payment systems with those of different nations. This essential association was shaped with the express reason for smoothing out digital payments and resolving normal issues like low interoperability and high transaction costs.
With this cooperation, NayaPay will be in a good position to offer SMEs and other Pakistani enterprises of all sizes a smooth link to over 25 Alipay+ global payment partners, reaching over 1.5 billion consumer accounts worldwide in addition to RAAST.
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This effort represents a significant advancement in the digitization of trade in Pakistan by guaranteeing secure and efficient transactions.
It is also envisaged that this cooperation will enable Pakistani firms to conduct business with visitors from across the world easily and quickly by providing them with a quick and inexpensive payment option.
This will promote trade and tourism between the two nations that is cashless and documented.
This effort sets a new standard for the financial sector in the region and is in line with the State Bank of Pakistan’s strategy for the nation’s economic progress and digital transformation.
This activity is a part of Alipay+’s recent, steady extension all through Southeast Asia.
The business revealed associations with Philippine digital payment providers in September 2023. Among different countries, it likewise set up connectors for its mobile wallet ecosystem in Thailand.
