Visa Aims for 10-Fold Rise in Pakistani use of Digital Payments – Startup Pakistan

Visa has announced a major plan to increase digital payments in Pakistan by helping more businesses accept them. Over the next three years, Visa wants to grow the number of businesses accepting digital payments by ten times. This was shared by Leila Serhan, who is Visa’s general manager for Pakistan, North Africa, and the Levant.

Visa is partnering with 1Link, which is the leading payment service provider in Pakistan, to make remittances easier and to encourage more people to use digital payments for everyday transactions.

This is especially important as only 60% of Pakistan’s 137 million adults currently have bank accounts, which limits access to digital financial services.

To make this plan successful, Visa is investing in improving the digital payment system in the country. This includes increasing the number of point-of-sale (POS) machines, which are used by businesses to accept card payments.

Additionally, Visa is working on new technologies that can turn smartphones into payment devices, making it easier for small businesses to accept digital payments without needing expensive equipment.

With these efforts, Visa hopes to make digital payments more common in Pakistan and help boost financial inclusion for more people.