Islamabad June 12 2023: Karandaaz a prominent organization at the forefront of promoting financial inclusion and driving digital transformation in Pakistan has announced its strategic partnership with Vizpro, a leading player in the digital payments ecosystem for facilitating digital payments
This collaboration aims to tackle a critical challenge faced by distributors and retailers across the country, which is the lack of easy access to e-money for digital payments and falls under the Karandaaz “Pilot to Scale” program, a platform dedicated to fostering innovation and scaling up transformative projects in the financial sector, said a press release.
The primary focus of this collaboration is to facilitate the digitization of retailer-to-distributor payments, introduce Raast IDs for merchants and refine the existing business model while exploring a merchant lending framework.
By streamlining these processes, the partnership aims to significantly enhance the efficiency, convenience, and security of digital payments, particularly within the Fast-Moving Consumer Goods (FMCG) sector.
Waqasul Hasan, CEO of Karandaaz said that the initiative aims to foster financial inclusion and catalyze digital transformation in Pakistan as the partnership is a significant step forward in the journey to create an inclusive and resilient financial ecosystem that improves the lives of the people.
Sharjeel Murtaza, Director of Digital Financial Services of Karandaaz, emphasized the significance of the partnership and said that commitment lies in harnessing the potential of digital innovation for creating a vibrant and inclusive financial landscape in the country.
CEO Vizpro, Akbar Ayub Khan on the occasion said that Vizpro and Karandaaz’s collaboration is going to be key to scaling-up up Vizpro’s operations of digitizing the retail supply chain & helping retailers go cashless.
The aim is to create a seamless and efficient digital payments ecosystem that simplifies transactions for distributors and retailers while ensuring a user-friendly experience.
