Karachi-based fintech Safepay is going live with Cybersource (a result of installments goliath Visa) to carry Pakistani dealers better approaches to empower their clients to pay them online without any problem.
Safepay is an installment specialist organization that has gotten pilot endorsement from the State Bank of Pakistan and has been dynamic in the market beginning around 2019.
Safepay's center proposing to a shipper is a one-window arrangement that permits clients to pay online through the dealer's site utilizing their financial balance, versatile wallet and presently Visa or Mastercard-supported card.
Through card acknowledgment, Pakistani shippers can get installments from their neighborhood and worldwide clients.
This is upheld by a market-driving computerized onboarding experience, simple to-utilize specialized combinations, centered client service, and a strong detailing dashboard that allows both little and huge organizations to follow their installments.
Safepay is the primary Pakistani fintech to have moved on from the renowned US startup gas pedal program Y Combinator and has as of late shut one more round of financing.
The most recent subsidizing empowers Safepay to twofold down on the foundation made in building an elite group, tasks, and organizations like this one with Cybersource.
We are particularly interested in learning how we can help dealers with developing their organisations with our new contributions, said Ziyad Parekh, a fellow benefactor of Safepay. "With existing financial backers like Stripe (the leading global instalments organisation) and Fatima Gobi Ventures, and currently inviting our new financial backers to our family, such as i2i Ventures,"
"We are willing to test our frameworks during our pilot with a number of reputable traders who are on our shortlist. Our association with Visa will empower us to work intently together and assemble imaginative arrangements that adjust to the developing necessities of our clients," he added.
Talking about Visa's coordinated effort with Safepay, Leila Serhan, Visa's Group Country Manager and Senior Vice President for North Africa, Levant, and Pakistan, said, "Today, purchasers are progressively embracing computerized trade, making it basic for organizations, all things considered, to be proactive with misrepresentation the board, while guaranteeing their clients' assumptions are met."
"At Visa, we are focused on presenting arrangements that offer numerous advantages to shippers and give clients a frictionless, secure, and helpful installment arrangement. Our cooperation with Safepay, the glad victors of the VEI Audience Favorite 2021, permits us to guarantee that we furnish dealers in Pakistan with admittance to excellent security arrangements that incorporate extortion the board, installment acknowledgment, and security."
"Cybersource is an exceptionally integral asset and we are eager to have based on top of this to deliver usefulness like membership installments which are seriously ailing on the lookout," says Co-Founder Raza Naqvi.
The pilot endorsement has been conceded in light of Safepay satisfying the State Bank of Pakistan's rigid models. The last stage is a business permit, which is liable to SBP's good evaluation of pilot tasks. The pilot endorsement permits Safepay to continue with onboarding shippers and scale its tasks.'
Iman Urooj, Chief Business Officer at Safepay, expressed, "Ordinarily at Safepay, we are propelled by the staggering stories we hear from traders across Pakistan. With our Pilot endorsement, we get to scale the quantity of dealers we have, we're just barely getting everything rolling and are invigorated for the excursion ahead!"
Safepay was one of the champs in the Visa Everywhere Initiative in 2021 - a worldwide development program and contest for new businesses and fintech organizations - held for Central and Eastern Europe, the Middle East, and Africa (CEMEA).
Getting the most votes from the crowd when it was streamed live on TechCrunch, Safepay won the "Crowd Favorite" grant.