NayaPay is affiliated with the Visa Fintech Fast Track program to accelerate the payment company’s integration process with Visa and enable NayaPay to take advantage of the reach, functions and security of Visa’s global payment network.
NayaPay wants to introduce a robust payment service platform that allows merchants and consumers to log in, execute transactions and communicate cheaply, securely and easily.
NayaPay believes that there is a significant gap between consumer expectations and currently available financial services. The company plans to address these shortcomings with its own world-class components platform to make payments smooth and secure, while complying with local and global regulatory frameworks and strict adherence to anti-money laundering and terrorist financing policies.
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Through the Fast Track program, NayaPay has access to Visa’s growing partner network, technology and resources to accelerate innovation in digital payments in Pakistan. As an e-money institution (EMI), users can use NayaPay to open e-money accounts in minutes and easily make digital payments to each other and to businesses.
NayaPay consumers and merchants can use their NayaPay Visa debit card to conduct online and in-store transactions with millions of retailers around the world and easily withdraw money from any ATM. NayaPay customers can also scan the Visa transaction QR code to pay directly through their app.
Visa Direct is also used to facilitate cross-border transfers to freelancers and other Pakistani companies working with international clients, as well as to households that receive transfers from their families abroad.
