The collaboration is expected to promote financial inclusion and accelerate adoption of new payment solutions
Study shows nearly 70 percent consumers in the Gulf state are turning to digital apps for international fund transfers
KARACHI: The world’s leading multinational payment card services provider, Visa Inc., on Wednesday announced its partnership with a Pakistani fintech, ABHI, along with YellowPepper to introduce account-to-account payments in the United Arab Emirates.
According to a handout circulated by Visa, the collaboration aims to revolutionize the financial landscape by driving innovation, promoting financial inclusion, and accelerating the adoption of new payment solutions in the Commercial and Money Movement Solutions (CEMEA) region.
“People increasingly want faster and more flexible access to their wages,” Shahebaz Khan, the company’s senior vice president and head of CEMEA, said in a statement.
Visa mentioned its own UAE study, “Money Travels: 2023 Digital Remittances Adoption,” which revealed that about 70 percent of surveyed consumers in the Gulf country were turning to digital apps to send and receive funds internationally, as comparison to 53 percent of consumers globally.
It said that the partnership with the two companies would help provide a cutting-edge payment experience, by facilitating an immediate, reliable and cost-effective way for customers to send and receive money.
“As we embark on this journey with Visa, we at ABHI are not just making a...
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