PayFast and Euronet Pakistan, a division of Euronet Worldwide, are partnering to strengthen Pakistan’s digital payments landscape. As a global and industry-leading payments and fin-tech solution provider, Euronet’s collaboration with PayFast will highly benefit partner companies of the PSO/PSP, including large corporations and SMEs.
PayFast- one of Pakistan’s most trusted payment gateways- is a licensed and regulated fintech that enables online payment acceptance from bank accounts, credit/debit cards, and mobile wallets for all types of companies, including large corporations, SMEs, and freelancers.
Integration with Euronet will enable the company to serve as PayFast’s e-commerce and card-acquiring processor. Additionally, PayFast will be able to leverage Euronet’s Merchant Management System which will lead to high-quality profiling and the ability to generate dynamic reports for partner merchants from the merchant dashboard. This will improve merchant relationships and settlement activities.
Both Euronet and PayFast are also PCI-DSS compliant, which greatly enhances security measures taken by the two entities to ensure stronger trust in the payment solution provider as well as Pakistan’s overall fintech landscape.
Speaking on the partnership, Mr. Adnan Ali commented: “For digital payment acceptance to increase in Pakistan, we have to build trust and security in online solutions. PayFast’s partnership with Euronet will do just that. Euronet has world-class industry standards that not just meet but surpass expectations. We’re very happy to have them onboard as a partner and look forward to how this will enhance our merchant experience.”
Kashif Gaya- CEO, EuroNet Pakistan added: “Euronet is excited to work with PayFast as their technology processor and look forward to managing their overall card payments. We are hopeful that, together, we can make a difference in building Pakistan’s fintech landscape, particularly by providing safe and simple solutions to aid the rapidly growing e-commerce sector.”
About Euronet Pakistan:
Euronet Pakistan, a subsidiary of Euronet Worldwide, brings with it the experience of one of the world’s largest global providers dedicated to banking and payments technologies. Euronet Pakistan offers the best blend of technology and outsourcing services to all Pakistani banks from its state of the art facility in Karachi, Pakistan. Backed by the very best talent in the local industry we provide an unmatched flexibility, scalability and SLA-based services.
Euronet Worldwide is an industry leader in processing secure electronic financial transactions, serving more than 200 institutions in approximately 150 countries.
The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, consumer money transfer and bill payment services, and electronic distribution for prepaid mobile phone time and other prepaid products. https://euronetpakistan.com/
About PayFast:
PayFast is a payment gateway service in Pakistan that is on a mission to provide easy online payment solutions for millions nationwide! It empowers businesses to swiftly accept online payments from their customers through cards, bank accounts, and mobile wallets, helping to increase conversions and maximize revenue. In 2021, the PayFast became the first fintech to be licensed and regulated by the State Bank. Accordingly, its gateway functions with the utmost security, with round-the-clock transaction monitoring and compliance with all international industry standard security practices.
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