NayaPay, Alipay+ to boost payments into Pakistan

Partnership will enable NayaPa to provide a seamless connection with more than 25 Alipay+ global payment partners

Financial platform NayaPay has partnered with digital payments and marketing platform Alipay+, with the collaboration expected to benefit digital payments in the country. 

"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," said a statement released by the financial platform. 

The partnership will enable NayaPay, well-positioned to provide businesses of all sizes, to provide a seamless connection with more than 25 Alipay+ global payment partners. This collaboration will benefit more than 1.5 billion consumer accounts. 

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

The partnership is expected to empower businesses in Pakistan to " in Pakistan to transact seamlessly with global visitors through a low-cost and fast payment system".

"This initiative is 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," added the statement.