PayPro, one of Pakistan’s fastest-growing fintech companies focused on B2B and B2C payments – was awarded an Rs. 7.473 million Innovation Grant by the USAID Small and Medium Enterprise Activity (SMEA).
The grant is aimed to help the fintech company to digitize the MSMEs (Micro, Small, and Medium-sized Enterprises), who are looking to collect payments through digital channels.
It will allow PayPro to invigorate the development of its marketplace platform with integrated digital commerce solutions for MSMEs, which would include a merchant portal and a mobile wallet for users to manage their finances, enabling a seamless experience for the Pakistani consumer.
PayPro has become a prominent player amongst the emerging fintech 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 on-boarding of merchants, the ever-expanding digital ecosystem is being facilitated by PayPro in a way that will digitize the informal business segment and enable seamless integration for both businesses and customers.
Speaking on the occasion, Ali Janjua, the Chief Executive Officer of PayPro Pvt. (Ltd.), said, “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.”
He said, “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.”
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, he added.
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 Rs. 1 billion in throughput till date, with more than 430 merchants accepting payments through its services and market accessibility of more than 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.