Visa has collaborated with 1Link, Pakistan’s leading payment system operator and service provider, to advance digital payments in the country. This strategic partnership aims to integrate Visa’s Alias Directory Service with the 1Link network, simplifying the processing of incoming remittances and enhancing user experience. Additionally, it provides an opportunity for PayPak cards to be accepted by all Cybersource-enabled acquirers.
Integration of Services
The Visa Alias Directory Service integration with 1Link will streamline the remittance process, making digital transactions more efficient. 1Link expressed confidence that this collaboration will significantly enhance the digital payment landscape in Pakistan. PayPak, owned by 1Link, will benefit as it expands its acceptance across various platforms.
Visa’s previous initiatives in Pakistan have aimed to boost digital payment acceptance among businesses. Comparatively, this partnership represents a more focused effort to integrate advanced digital payment services like the Visa Alias Directory Service. The collaboration aligns with Visa’s ongoing strategy to expand digital payment infrastructures, as evidenced by their partnerships with other financial technology firms in recent years.
Boosting Digital Payment Infrastructure
Visa plans to significantly increase the number of businesses accepting digital payments in Pakistan over the next three years. Leila Serhan, Visa’s general manager for Pakistan, North Africa, and Levant, highlighted the company’s goal to grow the number of point-of-sale (POS) machines and reduce the cost of digital transactions. The completion of the technical integration with 1Link is anticipated to be a major advancement for consumers.
Recent collaborations, such as the expansion of Visa Cross-Border Solutions with LemFi, have allowed Visa to extend its reach into new markets including Pakistan. Similarly, NymCard’s involvement with Visa’s Ready to Launch program has aimed to streamline payment product issuance for FinTech companies. These efforts underscore Visa’s commitment to enhancing payment systems and expanding its global footprint.
Visa and 1Link’s partnership is poised to transform the digital payment landscape in Pakistan. By integrating Visa’s advanced services into the local payment network, the initiative aims to make digital transactions more accessible and cost-effective. This move not only supports Visa’s strategic objectives but also promises to bring substantial benefits to Pakistani consumers and businesses, fostering greater financial inclusion.
