Lahore (March 7th, 2022) 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.
OPay plans 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.
Being a global leader in electronic payment processing, Euronet will drive and process transactions through OPay POS terminals and act as a transaction processing hub and a gateway for all international payment schemes.
In addition, OPay will also use Euronet payment rails to offer value-added services such as Bill Payments, Mobile Top Ups and Cash / Card Based transfers to merchants and customers using its smart POS devices.
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.
The signing ceremony held at Lahore was attended by Mr. Qaiser Sheikh, Director Partnerships OPay, Mr. Kashif Gaya, CEO Euronet Pakistan, Sobia Islam Head of Human Resources (OPay), Raza Hassan, Manager Legal (OPay) and Dawer Khan Head of Implementations & Customer Services (Euronet Pakistan) and Abdullah Maqsood Khawaja Manager Corporate Partnerships & Alliances (Euronet Pakistan)
Speaking at the occasion Mr. Qaiser Sheikh, Director Partnerships OPAY stated: “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 in leveraging their expertise and strong market footprint to drive our financial inclusion strategy.
Mr. Kashif Gaya, CEO Euronet Pakistan said ‘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 towards this long-term strategic partnership and support OPAY in developing a comprehensive digital payments eco-system’
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. For more information, visit the Company’s website https://www.euronetworldwide.com
OPay has marked over 160 million users and 300,000 POS acquiring merchants in the emerging African countries market. OPay did major contribution to African cash-based retail economy turnaround into the digital payments retail economy. OPay did invest in technology and building the infrastructure for converting these cash-based merchants into digital payment accept merchants. OPay eyes on Pakistan as another big opportunity to build the same infrastructure and convert the cash based economy into digital retail economy. For more information, visit the Company’s website https://www.opayweb.com/pk