ISLAMABAD, May 18: Karandaaz Pakistan has partnered with Finnect to support the deployment of offline payment solutions in areas where internet connectivity is weak or unavailable.
The partnership aims to help small businesses, merchants and communities in rural, remote and underserved areas access digital payments despite connectivity challenges. The initiative will use the Raast ecosystem to support secure and scalable payment options for users who face unreliable internet access.
Finnect was among the winners of the 1st Offline Payments Innovation Challenge. Under the collaboration, the company will work to accelerate offline payment solutions and expand digital payment acceptance among merchants.
Pakistan’s shift toward a more digital economy has increased the need for payment systems that can work in low-connectivity environments. Intermittent internet access remains a barrier for small merchants and users in both rural areas and parts of urban centres.
Finnect, a digital payments enabler, has experience in Raast QR soundbox deployments and currently facilitates transactions across more than 20 cities in Pakistan. The partnership is expected to support merchant onboarding and digital payment acceptance in Tier 2 and Tier 3 markets.
Focus on Raast-based payment access
Karandaaz Pakistan CEO Waqas ul Hasan said Pakistan’s move toward a cashless economy must reflect the realities of local people and markets.
He said the partnership with Finnect would support practical innovation, strengthen the Raast ecosystem and extend secure digital payment solutions to underserved markets, including smallholder farmers, small merchants and rural communities.
Finnect CEO Shahnawaz Mahmood said the collaboration would help expand reliable digital payment solutions across Pakistan.
He said Finnect would use its experience in Raast QR deployments to provide simple and practical payment systems for merchants and communities facing connectivity challenges.
Supporting financial inclusion
Karandaaz said the initiative reflects its focus on supporting innovations that address barriers to financial inclusion and make digital payments more accessible across Pakistan.
Karandaaz Pakistan works to strengthen the country’s financial and digital ecosystem through investments, innovation and partnerships. It was established in 2014 with seed grant funding from the UK Government’s Foreign, Commonwealth and Development Office and also receives grant funding from the Gates Foundation for digital financial services work.
Finnect develops and implements digital payment products in Pakistan, with a focus on QR payments in collaboration with banks and wallet providers.
Also read: BISP And Karandaaz Pakistan Sign Agreement
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