By Press Release: NayaPay, a Pakistani fintech platform, has joined forces with Alipay+, a cross-border digital payments and marketing platform run by Ant International, a subsidiary of Ant Group.
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. This strategic alliance is specifically designed to streamline digital payments, tackling prevalent issues such as limited interoperability and elevated transaction costs.
Through this partnership, NayaPay is well-positioned to provide Pakistani businesses of all sizes, particularly SMEs, with a seamless connection to more than 25 Alipay+ global payment partners, which reaches more than 1.5 billion consumer accounts, in addition to RAAST.
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, this partnership is anticipated to empower businesses in Pakistan to transact seamlessly with global visitors through a low-cost and fast payment system. This will foster documented and cashless trade and tourism between the two countries.
Read More: First Instant Payment System launched in Pakistan
This initiative aligns 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.
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