OP Digital Services Pvt Ltd. (OPay) joined hands with Euronet Pakistan for a strategic collaboration in the areas of the digital retail ecosystem. The partnership aims to make money transfers more transparent and accelerate the digitization of retail services to stay ahead of the curve.
OP Digital Services Pvt Ltd. (OPay), a Soft-Bank-backed fintech, has entered into an agreement with Euronet Pakistan to rapidly develop the local payments ecosystem, accelerate the turnaround of a cash-based economy into the digital payments retail economy, and create a financially inclusive Pakistan.
The Soft-Bank-backed fintech aims to deploy over 100,000 smart POS devices in Pakistan which will equip the local merchants to accept all kinds of payments and offer value-added services to both cards based and cash-based customers.
Euronet Pakistan, the subsidiary of Euronet Worldwide, acts as a transaction processing hub and a gateway for all international payment schemes. Being a global leader in electronic payment processing, it will drive and process transactions through OPay POS terminals.
The seamless mobile money service will use Euronet payment rails to offer value-added services to merchants and customers using its smart POS devices such as Bill Payments, Mobile Top-Ups, and Cash/Card Based transfers. The entire solution will be hosted on Euronet’s PCI compliant application and infrastructure in its data center facilities in Pakistan and will offer guaranteed service levels and processing uptimes that will help OPay to scale, optimize, and fast track the rollout of services.
Director Partnerships OPay Qaiser Sheikh, CEO Euronet Pakistan Kashif Gaya, Head of Human Resources OPay Sobia Islam, Manager Legal OPay Pakistan Raza Hassan, Head of Implementations & Customer Services Euronet Pakistan Dawer Khan and Manager Corporate Partnerships & Alliances Euronet Pakistan, Abdullah Maqsood Khawaja are the key attendants of the ceremony.
Speaking on the occasion, Director Partnerships, OPay Qaiser Sheikh said, “Euronet is the leading technology provider of POS acquiring in Pakistan with an extensive, scalable and the most sophisticated POS driving platform. We see Pakistan as the most important market with a great potential to digitize the economy and we look forward to leveraging their expertise and strong market footprint to drive our financial inclusion strategy.”
Kashif Gaya, CEO Euronet Pakistan, stated, “We are pleased to be selected as a technology partner by Opay to play a key role in its massive financial inclusion program. This collaboration is a steppingstone towards the acceleration of technology inclusion and will facilitate POS aggregation and digitization of retail payments. We look forward to this long-term strategic partnership and support OPay in developing a comprehensive digital payments ecosystem.”
For all the latest updates and news, visit CxO Global FORUM.
