LAHORE-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. 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. The partnership falls under Karandaaz’s esteemed “Pilot to Scale” program, a platform dedicated to fostering innovation and scaling up transformative projects in the financial sector.
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.
Waqas ul Hasan, CEO of Karandaaz, stated, “We are thrilled to partner with Vizpro on this transformative initiative, as it aligns perfectly with our mission to empower individuals and businesses with seamless access to digital financial services. By leveraging Vizpro’s expertise in mobilizing digital payments ecosystems, we aim to revolutionize merchant payments and drive economic growth in the country. This partnership is a significant step forward in our journey to create an inclusive and resilient financial ecosystem that improves the lives of people.”
Under the scope of the project, Karandaaz and Vizpro will collaborate on scaling operations and business development, driving marketing and awareness of the Vizlink App, and enabling the Raast P2M (Person-to-Merchant) use-case. 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.