[Karachi, Sindh] – [9th August 2023] – Visa (NYSE: V), the world’s leader in digital payments, and Paysys Labs Pvt Ltd, a leading payment technology provider based out of Pakistan, today announced a partnership to bring “Tap to Phone” payments to Pakistan. The groundbreaking ‘Tap to Phone’ solution enables merchants to accept contactless payments using their Near-Field-Communication (NFC) technology enabled smartphone devices without having to invest in a separate physical device.
This partnership will especially benefit small and medium enterprises (SMEs) across Pakistan as they do not have to make additional financial investments to cater to a growing digitally savvy consumer base that is increasingly asking for cashless payment options.
Tap to Phone is a contactless payment technology that allows merchants to accept payments by simply tapping a customer’s Visa contactless card or NFC enabled smartphone on a merchant’s cell phone. With Tap to Phone technology, any NFC enabled mobile phone can become a point-of-sale (POS) device. The technology is quick, secure, and convenient for both merchants and consumers.
“We are excited to partner with Paysys Labs to bring Tap to Phone payments to Pakistan,” said Umar S. Khan, Country Manager for Visa in Pakistan & Afghanistan. “The pandemic catalysed businesses to expand their payment methods beyond cash, as consumers expect and prefer secure and seamless cashless payment methods wherever they shop. A Visa study conducted post the pandemic showed more than half of the surveyed Pakistani respondents were using less cash and opting for cashless options. Visa’s Tap to Phone solution can help businesses go digital quickly, avoid lost sales and improve cash flow by accepting contactless payments anywhere, anytime while improving the customer experience. Customers win too, as they can make payments in seconds by simply tapping their contactless card or phone to the merchant’s Tap to Phone-enabled smartphone. We believe this will be a great move for Pakistan’s digitisation journey.”
“We are delighted to partner with Visa to introduce this Tap to Phone solution in Pakistan,” said Karim Jindani, Chief Executive Officer at Paysys Labs. “Tap to Phone is a simple and secure way to accept contactless payments, and it will help drive the growth of contactless payments in Pakistan. Additionally, this partnership will help us digitize small merchants in Pakistan, who often do not have access to traditional POS terminals. This will help merchants to accept payments more efficiently and securely, and it will help them to grow their businesses.”
The partnership between Visa and Paysys Labs is expected to make Tap to Phone payments available to merchants across Pakistan in the coming months.
Visa’s MENA research on Consumer Attitudes and Behavior Towards Card Security, 2020
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable, and secure payments network – enabling individuals, businesses, and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transactions per second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce, helping to drive economic growth and job creation in markets around the world. Visa is committed to operating its business in a sustainable and responsible way, while creating economic opportunity for everyone. For more information, visit:
About Paysys Labs
Paysys Labs Pvt Ltd is a leading payment technology provider based out of Pakistan. The company offers a wide range of payment solutions, including Digital merchant acquiring solutions for proximity and online payments. Paysys Labs is committed to providing its customers with innovative and secure payment solutions. For more information, visit www.paysyslabs.com: https://www.paysyslabs.com/.
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