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Technolog & Business News from Pakistan

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Meezan Bank Sing Strategic MoU with PaySa to expand Point of Sale Payment Services

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Karachi: Meezan Bank, Pakistan’s leading Islamic bank, and PaySa, a fintech startup specializing in digital payments, have partnered to enable Point of Sale (POS) payment services to tap into the country’s booming digital payment ecosystem. According to this agreement, PaySa will deploy POS terminals and grow the Bank’s merchant and retailer network as an independent sales organization.

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In combination with PaySa’s nenext-generationusiness solutions, the Bank will empower the country’s commerce by not only simplifying payments for merchants but also enabling real-time transactions.

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Mr. Shariq Mubeen – Chief Digital Officer, Meezan Bank said, “Fintechs have immense potential in growing digital acceptance, especially with small merchants in Pakistan, and Meezan Bank is delighted to collaborate with PaySa in this space. We are confident that this alliance will help us in accelerating the deployment of POS network while also delivering excellent services to all our customers Insha’Allah.”

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Mr. Ali Adnan, CFA – CEO & Co-Founder, PaySa said “The strategic partnership between Meezan Bank and PaySa is expected to create synergies that will benefit the whole financial ecosystem of Pakistan. By combining their respective strengths, Meezan Bank and PaySa can offer innovative and seamless digital payment solutions that are fully compliant with Islamic banking principles, expand the digital payment ecosystem in Pakistan, reduce the reliance on cash transactions, and promote financial inclusion in the country.”

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