ISLAMABAD: NayaPay, a local fintech platform, has partnered with international player Alipay+ to provide money transfer services and e-wallets, bank apps to facilitate the incoming foreign exchange flows as well as integrating the cashless payment systems of global markets and Pakistan.

NayaPay customers can deploy QR codes compatible with both RAAST and Alipay+ payment partners, and this 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 over 1.5 billion consumer accounts in addition to RAAST.

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

Published in Dawn, January 24th, 2024