The payments solution Easypaisa is teaming up with Pakistan’s crowdfunding platform Seed Out to digitize payments collection, reports indicated.
Seed Out helps the underprivileged learn the right entrepreneurial skills to succeed. This collaboration aligns with Easypaisa’s goal of partnerships with prominent organizations specializing in digital financial solutions.
The partnership enables beneficiaries of Seed Out to receive and disburse loan payments seamlessly through the Easypaisa app.
“Easypaisa has been instrumental in providing innovative payment solutions to facilitate our customers and consistently add value to our products and solutions,” said Khurram Malik, head of Easypaisa, Telenor Microfinance Bank. “Our agreement with Seed Out comes in connection with our commitment of digitizing cash payments. We will continue to build such partnerships in order to support convenient and hassle-free payments and enhance financial inclusion in Pakistan.”
Pakistan’s leading mobile financial services provider is Easypaisa, which handles millions of users country-wide.
“Seed Out has always remained true to its vision of integrating technology and development,” said Zain Ashraf, founder of Seed Out. “With this MOU [memorandum of understanding] signing with Easypaisa, I’m very pleased as our beneficiaries will be able to easily repay their loan amount from the comfort of their homes. It saves them time and money. Taking small steps to make people’s lives easier makes a big difference.”
A report from the State Bank of Pakistan in February said a lack of electronic payment services like PayPal in the country has led the nation to lose out on as much as $2 billion in payments related to the information and communication technology (ICT) sector.
The State Bank of Pakistan published its State of Pakistan Economy Report for the first quarter of fiscal year 2018, pegging ICT exports at $1 billion for 2018. The true value though could be as high as $2.5 billion, the report stated.
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