Karachi, February 19, 2020: PayPro, one of Pakistan’s fastest growing fintech companies which focuses on B2B and B2C payments, was awarded a PKR 7.473 million Innovation Grant by the USAID Small and Medium Enterprise Activity (SMEA) to digitize the MSMEs (Micro, Small and Medium sized Enterprises) who’re looking to collect payments through digital channels.
The grant will allow PayPro to invigorate the development of its marketplace platform with integrated digital commerce solution for MSMEs, which will include a merchant portal as well as a mobile wallet for users to manage their personal finances, enabling a seamless experience for the Pakistani consumer.
PayPro has become a prominent player amongst the emerging fintechs in Pakistan, catering to a variety of MSMEs belonging to sectors such as agriculture, education, digital commerce, healthcare, hospitality, NGOs, real estate, insurance and travel. With continuous onboarding of merchants, the ever-expanding digital ecosystem is being facilitated by PayPro in a way which will digitize the informal business segment and enable seamless integration for both businesses and customers.
Speaking on the occasion, Mr. Ali Janjua, the Chief Executive Officer of PayPro Pvt. (Ltd.) stated; “Digital finance has become the cornerstone for progressive economies as a strong reminder that in order to be sustainable, transactions have to be conducted through digital channels, especially with the COVID-19 Pandemic in the equation. As customers in Pakistan begin to accept the new normal, PayPro is making sure to provide them with the tools necessary to perform a diverse range of financial transactions based on their day to day routine lives.”
He further added, “The USAID Small and Medium Enterprise Activity (SMEA) Innovation Grant is a testament to the efforts and the potential that the organization has displayed since its inception. It bolsters our confidence to continue on our mission of transforming the digital financial infrastructure within the country.”
PayPro was launched in September 2019 with a vision to enable enterprises to manage their business operations proficiently. Today, the company has processed approximately 70,000 transactions valued at more than 1 billion in throughput till date, with more than 430 merchants accepting payments through its services and a market accessibility of 25+ financial institutions including all major banks, digital wallets, MFI’s, branchless banking services, local and international card schemes and a nationwide network of over the counter cash collection partners.