NayaPay, a Pakistani fintech platform, has joined forces with Alipay+, a cross-border digital payments and marketing platform run by Ant International, a subsidiary of Ant Group.
The goal is to boost global payments into Pakistan. They will use QR codes that work with Raast – Pakistan’s instant payment system – and Alipay+ payment partners, such as e-wallets and bank apps. This will enable incoming foreign exchange flows and link global markets’ cashless payment systems with Pakistan.
NayaPay will help Pakistani businesses – especially SMEs – access more than 25 Alipay+ global payment partners.
The partnership will also tackle common challenges, such as low interoperability and high transaction fees.
This move is part of Alipay+’s steady growth in Southeast Asia over the last few quarters.
In September 2023, the company revealed integrations with digital payment platforms in the Philippines. It also established integrations for its mobile wallet ecosystem in Thailand, among other countries.
