Digital payments present a significant opportunity for businesses to increase revenues and streamline collections. According to a study by Visa, integrating digital payments resulted in revenue growth of 17% for businesses in Pakistan. The study also revealed that 4 out of 5 consumers consider digital payments as their preferred payment option.
These statistics indicate a growing need among businesses to offer digital payments and a shift in consumer preferences. However, Neem’s payment solution for digital platforms directly addresses this demand and the vast opportunity it presents.
To enhance our payments offering, we have partnered with PayFast, a leading payment gateway provider. This collaboration allows us to offer a robust payment gateway solution to digital platforms in Pakistan.
In more detail, Neem will also offer digital platforms a payment gateway option for a simplified payment collection process. With easy integration through APIs and SDKs, any digital platform can streamline its time-to-market and enable seamless collections and automated settlements.
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Currently, PayFast facilitates digital payments for over 500 businesses across Pakistan. Through our partnership, PayFast customers will make fast and secure payments using Neem’s payment infrastructure at all PayFast-enabled online checkouts and point-of-sale (POS) transactions.
At Neem, our mission is to improve access to impactful financial services and promote financial wellness in emerging markets. Moreover, This partnership marks a significant stride towards that goal by simplifying the adoption of digital payment experiences for businesses and consumers alike.
About Neem:
Neem is a Banking-as-a-Service (BaaS) platform, a financial wellness infrastructure, enabling digital platforms across various industries to offer embedded financial services to their underserved customers. We started in Pakistan and are building for emerging markets.
About PayFast:
PayFast is a State Bank licensed payment gateway empowering businesses to swiftly accept online payments from their customers through cards, bank accounts, and mobile wallets. With a focus on fostering financial independence and driving nationwide digitization, PayFast aims to simplify the online payment experience, ensuring convenience and security every step of the way.
