Karandaaz, Pakistan’s leading impact investment platform focused on promoting financial inclusion and sustainable economic development, has entered into a strategic partnership with Vizpro, a technology-driven fintech innovator working to digitize the FMCG (Fast-Moving Consumer Goods) retail ecosystem. This collaboration aims to reshape the way small and medium-sized merchants operate in Pakistan’s vast informal retail sector by enabling digital merchant-to-distributor (M2D) payments and expanding access to short-term financing.
This initiative is focused on addressing some of the most entrenched challenges faced by Pakistan’s informal retail market, particularly the dominance of cash transactions and the lack of formal credit access. With most small retailers still operating outside the formal financial system, the partnership seeks to create digital financial identities that can serve as a foundation for credit assessment, cash-flow management, and long-term growth. Through the integration of digital payments and credit solutions, Karandaaz and Vizpro aim to foster greater financial resilience, transparency, and inclusion for retailers operating at the grassroots level.
Vizpro, through its digital platform Vizlink, has already onboarded over 13,000 merchants in Lahore and digitized more than PKR 5 billion in M2D payments. The platform has developed a reliable ecosystem of branchless banking agents and distributor networks and collaborates with major financial service providers such as Easypaisa and JazzCash. It has also recently entered into a financing enablement partnership with CreditBook and is working with key FMCG companies like Pakistan Tobacco Company to support the digitization of their trade and sales operations.
With support from Karandaaz, Vizlink will now be scaled to reach an additional 16,000 FMCG retailers across Tier 2 cities in Punjab as well as Karachi. Retailers will benefit from a bundled suite of services that allow them to digitally place orders, make instant digital payments to distributors, and access working capital financing—all through one integrated platform. This end-to-end solution not only reduces friction in daily transactions but also enables small businesses to better manage inventory, cash flow, and business expansion.
A central feature of this expansion is the implementation of Raast QR, Pakistan’s instant payment system, which will allow participating retailers to accept instant digital payments from end consumers. This key step is expected to accelerate the adoption of digital transactions, reduce reliance on cash, and bring Pakistan closer to a cash-lite economy.
Karandaaz CEO Waqas ul Hasan emphasized that this partnership marks a transformative moment in formalizing Pakistan’s informal economy. By building digital footprints for retailers, the initiative not only unlocks new growth opportunities but also demonstrates the viability and scalability of inclusive fintech solutions in underserved markets. Similarly, Vizpro CEO and Co-Founder Akbar Ayub Khan stated that what began as an effort to resolve cash management issues in the retail “Middle Mile” has now evolved into a complete digital supply chain solution—covering payments, credit, and communication.
Sharjeel Murtaza, Chief Digital Officer at Karandaaz, added that the pilot program has already shown significant promise, and scaling it further will demonstrate how simple, accessible tools can create lasting impact for small merchants. He noted that this approach directly addresses the working capital financing gap and brings order management, payment processing, and credit enablement into a single, user-friendly platform.
The Karandaaz–Vizpro partnership represents more than just the deployment of technology—it is a scalable model for economic empowerment and innovation. By targeting the backbone of Pakistan’s retail economy—its small merchants—this initiative sets the stage for a broader, more inclusive digital transformation in the country’s financial and commercial systems.
