OPay plans to deploy 100,000 smart POS devices which will equip merchants to accept all kinds of payments.
The growing digitisation culture and ecosystem for the emerging fin-tech industry has attracted many big players in the past few years.
One such addition to the list of fin-techs is Soft Bank-backed (a Japanese investment giant) OPay which is here to make its mark in Pakistan's digital payment industry.
Since its launch in 2018, the company has marked over 160 million users and 300,000 POS acquiring merchants in the emerging African countries market; the company obtained its unicorn status in August 2021.
The latest valuation at $2 billion USD comes after it managed to raise a whopping $400 million USD in new financing led by SoftBank. This is considered to be the largest fundraise by any company in terms of size and value, thereby allowing OPay to make its way into another largely unbanked market: Pakistan.
OPay made major contributions to Nigerian cash-based retail economy turnaround into the digital payments retail economy. OPay invested in technology and building of the infrastructure for converting these cash-based merchants into digital payment accept merchants.
OPay is all set to introduce its services to Pakistan as the country enjoys similar economy and payment challenges as experienced by the company in the African market.
OPay Pakistan's Vice President, Zeb Khan detailed the platform's vision and future plans for the Pakistani market.
"OPay plans...
Read Full Story: https://www.dawn.com/news/1677195
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
