The rising fin-tech industry’s growing digital culture and ecosystem have attracted several significant companies.
OPay, supported by Soft Bank (a Japanese investment powerhouse), is aiming to create a difference in Pakistan’s digital payment market.
Since its start in 2018, the company has accumulated over 160 million users and 300,000 POS acquiring merchants in the rising African countries market.
Following a $400 million USD fundraising spearheaded by SoftBank, the company was recently valued at $2 billion USD. This is the greatest crowdfunding by any company, allowing OPay to enter another unbanked market: Pakistan.
OPay helped transform Nigeria’s cash-based retail industry into a digital payments economy. These cash-based merchants became digital payment accept merchants after OPay invested in technology and infrastructure.
OPay is preparing to enter the Pakistani market, which shares many of the same economic and payment issues as the African sector.
He also discussed the platform’s future objectives for the Pakistani market.
“OPay proposes a multimillion-dollar direct investment in Pakistan, producing over 2000 IT employment. OPay has operations in Lahore, Karachi, and Islamabad and is aggressively employing payment experts. OPay intends to build the country’s greatest fleet of professionals “Zeb Khan claims
Added the “VaS (Value-Added Services) POS acquiring merchant is OPay’s unique business model. Their customers will be able to pay bills, top up mobile phones, cash in and out, and transfer money via VAS-POS acquiring merchants. An acquired merchant can gain increased client traffic and revenue.”
