Ant Group subsidiary Ant International is teaming up with Pakistani fintech platform NayaPay to enhance global payments entering Pakistan through their cross-border digital payments and marketing platform, Alipay+. This collaboration involves deploying QR codes compatible with Raast, Pakistan’s instant payment system, and Alipay+ payment partners, such as e-wallets and bank apps. The initiative aims to streamline incoming foreign exchange flows, fostering connectivity between global markets’ cashless payment systems and Pakistan.
Addressing challenges like limited interoperability and high transaction costs, the partnership seeks to provide solutions. NayaPay will play a pivotal role in linking Pakistani businesses, particularly SMEs, to over 25 Alipay+ global payment partners. This move aligns with Alipay+’s broader strategy of expansion across Southeast Asia, with previous announcements in September detailing integrations with digital payment platforms in the Philippines and the establishment of its mobile wallet ecosystem in Thailand, among other countries.
