NayaPay has joined the Visa Fintech Fast Track program, which accelerates the company’s integration process with Visa and empowers NayaPay to gain access, power, and security to Visa’s global payment network. Through the Fast Track program, NayaPay has access to a growing network of Visa partners, technology, and resources to accelerate new skills in digital payments in Pakistan.
As an Electronic Financial Institution (EMI), NayaPay will allow users to open E-Money accounts within minutes and make trouble-free digital payments to each other and businesses.
NayaPay buyers and merchants can use their NayaPay Visa debit card to perform online and store operations with millions of merchants worldwide and withdraw cash legally at any ATM location. NayaPay customers can also check the VR code of the QR vendor to make direct payments with their app.
NayaPay will also incorporate Visa Direct to facilitate the transfer of funds to consumers and other businesses based in Pakistan, working with overseas customers, as well as families receiving money from their families abroad. Users will be able to receive money instantly and directly into their NayaPay wallets from over one million Visa cards worldwide.
“We are committed to helping fintech achieve their potential – enabling larger ideas to grow and support them in accessing, to a greater extent and securely on the Visa network,” said Kamil Khan, Country Manager, Pakistan, Visa.
“We have implemented our strategies with efficiency and how we work with partners and clients to promote the growth of the global ecosystem around the world and rejoice in the opportunities and new co-operation cases that will give them the NayaPay partnership in Pakistan.
Danish Lakhani, CEO of NayaPay, said: “We are delighted to have a partner in Visa who shares our goals of making financial services easier, more convenient and accessible to Pakistani users – their needs that have been neglected for a very long time. and give us our promise to be a part of people’s daily lives.”
“By joining the Visa Fintech Fast Track program, exciting fintech such as NayaPay gained unprecedented access to Visa professionals, technology and resources,” said Otto Williams, Vice President, Strategic Partnership, Fintech and Ventures, CEMEA at Visa.
“The Visa Fintech Fast Track program provides us with new tools that fast-growing companies need to be able to operate effectively. We are very excited to welcomeayaPay into our program and look forward to working with them on their payment solutions that will transform investment in Pakistan,” he added.