Visa Aims to Boost Digital Payments in Pakistan Tenfold
Visa has announced a strategic partnership with 1Link to accelerate digital payment adoption across Pakistan
Introduction
The financial services company Visa is working with Pakistan’s largest payment switch, 1Link, to expand digital payment solutions and reduce cash dependency.
Key Highlights:
- Increase in Digital Transactions: Visa aims to increase digital payments tenfold over the next three years.
- Financial Inclusion: More businesses, especially small and medium enterprises (SMEs), will be encouraged to accept digital payments.
- Government Support: The State Bank of Pakistan has backed the initiative to promote cashless transactions.
Impact:
- More secure and transparent transactions will boost Pakistan’s digital economy.
- Consumers will have greater access to online banking, e-commerce, and contactless payments.
Future Outlook:
- With rapid fintech growth, digital wallets and mobile banking will become more widely used across Pakistan.
