PaySa, Pakistan’s latest Electronic Money Institution (EMI) with in-principle approval from the State Bank of Pakistan (SBP), has announced a strategic partnership with Covalent, the technology company behind the award-winning Taabiir platform. The collaboration marks a significant milestone in Pakistan’s evolving digital payments landscape, combining PaySa’s merchant-focused strategy with Covalent’s robust fintech infrastructure to deliver scalable, secure, and innovative payment solutions.
The signing ceremony was held at Covalent’s new facility, “The Hub,” and was attended by key representatives from both organizations. Under this agreement, Covalent will configure and customize its Taabiir platform to align with PaySa’s business objectives, enabling the company to launch and expand a range of digital financial services efficiently.
PaySa stands out as the first EMI in Pakistan with a dedicated focus on retail merchant acquiring. The company currently powers more than 5,000 merchant locations under an Independent Sales Organization (ISO) model, providing payment acceptance solutions to businesses across diverse sectors. By leveraging Covalent’s technology, PaySa aims to further enhance its capabilities, streamline merchant onboarding, and introduce innovative digital payment experiences.
Covalent, a leading provider of fintech services in Pakistan and the Middle East, brings deep industry expertise and proven technology to the partnership. Its proprietary Taabiir platform has become a foundational solution for Electronic Money Institutions, Digital Banks, and Microfinance Banks, offering a fully compliant, customizable framework that accelerates digital transformation within financial institutions.
“PaySa found the perfect partner in Covalent with its fully compliant platform and agile delivery team to seamlessly enable and power various digital services for our customers, merchants, and other entities,” stated Ali Adnan, CEO of PaySa. “Covalent was selected after an extensive evaluation exercise by our team, and we feel that the synergies between both teams will propel us to the next level in a matter of months.”
Adding to this, Haris Waheed, Chief Operating Officer of Covalent, expressed his confidence in the partnership’s success. “Covalent is appreciative of the trust that PaySa has placed in our award-winning Taabiir Platform. We are poised to quickly and efficiently enable our fully compliant platform for PaySa in a matter of weeks,” he said. “Covalent has enabled and powered an extremely diversified range of EMIs and fintechs in the Pakistani market. We have the required expertise and experience to ensure that PaySa customers experience best-in-class services that are a hallmark of Covalent.”
This partnership highlights the growing momentum within Pakistan’s digital payments sector, driven by regulatory support, innovative fintech collaborations, and rising demand for financial inclusion. By integrating Covalent’s advanced platform, PaySa aims to accelerate the adoption of digital payments among merchants and consumers alike, contributing to a more connected and cashless economy.
As Pakistan’s fintech ecosystem continues to expand, strategic alliances like this one between PaySa and Covalent are setting the stage for a new era of efficient, customer-centric digital financial services.
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