PayFast brings the ultimate and innovative solution to address the pain points of digital payments industry of Pakistan.
Pakistan has over 80 million 3g / 4g subscribers, and a huge potential of ecommerce, the market value is estimated at USD 2 billion with a remarkable average yearly growth of 58%. Covid has evidently caused a boom in online payments as the customer’s preference from cash has started to shift towards cashless means. Nonetheless, the value can be far better if the concerns are addressed as it is still a Cash dominated economy with COD valuing 90% of online transactions.
We have more than1,500 ecommerce enable merchants with a huge pie left out, this low number is primarily attributed to the dearth of cost effective, robust and secure online payment solutions compatible with multiple modes of integration such as Open APIs, plugins etc.
PayFast address these issues by providing payment acceptance via multi instruments with a User Centric UI/UX, these include cards noteworthy being, UnionPay and other card schemes, Mobile Wallets and now unveiling Bank account numbers as an easy payment instrument. They are also helping merchants to accept online payments at ease, by offering them digital sign up, Developer friendly APIs, plugins for ecommerce stores and the experience of future payments.
