September 22, 2023

Lahore (Muhammad Yasir)

Karandaaz, a excellent group on the forefront of promoting financial inclusion and driving digital transformation in Pakistan, is completely happy to announce its strategic partnership with Vizpro, a primary participant throughout the digital funds ecosystem. This collaboration targets to type out a significant drawback confronted by distributors and retailers all through the nation, which is the dearth of fast entry to e-money for digital funds. The partnership falls beneath Karandaaz’s esteemed “Pilot to Scale” program, a platform dedicated to fostering innovation and scaling up transformative initiatives throughout the financial sector.

The primary focus of this collaboration is to facilitate the digitization of retailer-to-distributor funds, introduce Raast IDs for retailers, and refine the current enterprise model whereas exploring a service supplier lending framework. By streamlining these processes, the partnership targets to significantly enhance the effectivity, consolation, and security of digital funds, notably contained in the Fast-Shifting Shopper Gadgets (FMCG) sector.

Waqas ul Hasan, CEO of Karandaaz, stated, “At Karandaaz, our imaginative and prescient is to foster financial inclusion and catalyze digital transformation in Pakistan. We’re thrilled to affiliate with Vizpro on this transformative initiative, as a result of it aligns utterly with our mission to empower individuals and firms with seamless entry to digital financial suppliers. By leveraging Vizpro’s expertise in mobilizing digital funds ecosystems, we aim to revolutionize service supplier funds and drive monetary growth throughout the nation. This partnership is a giant step forward in our journey to create an inclusive and resilient financial ecosystem that improves the lives of people all through Pakistan.”

Sharjeel Murtaza, Director – Digital Financial Firms of Karandaaz, emphasised the significance of the partnership, stating, “At Karandaaz, our unwavering dedication lies in harnessing the potential of digital innovation for making a vibrant and inclusive financial panorama in Pakistan. Our strategic partnership with Vizpro marks a giant leap forward in realizing this imaginative and prescient. By facilitating the adoption of interoperable digital funds, rising the accessibility of the Vizlink App, and prioritizing a seamless shopper experience, our goal is to revolutionize digital funds for distributors and retailers all through the nation This partnership exemplifies our dedication within the course of enabling and scaling innovation for driving transformative change contained in the digital funds panorama.”

Vizpro was chosen as a result of the affiliate for this initiative as a consequence of their sturdy dedication and expertise in mobilizing digital value strategies. As a sister concern of a well-established distributor for Unilever Pakistan, Vizpro brings treasured commerce information and current relationships with retailers. The preliminary focus of the partnership is perhaps in Lahore, with plans to broaden to completely different cities and cities all through Pakistan. This development highlights the shared goal of Karandaaz and Vizpro to make a giant impression on the digital value panorama, benefiting firms and communities nationwide.

CEO Vizpro, Akbar Ayub Khan talked regarding the partnership saying, “Vizpro and Karandaaz collaboration goes to be key to scaling-up of Vizpro’s operations of digitizing the retail present chain & serving to retailers go cashless. Vizpro seems to be like forward to revenue from Karandaaz’s expertise and presence throughout the digital finance space. I am assured that Vizpro’s in-depth information of the distribution model and associated retail present chain will enable it to faucet diversified completely different alternate options on this house and open avenues of extra long term engagement/collaboration with Karandaaz.”

Beneath the scope of the mission, Karandaaz and Vizpro will collaborate on scaling operations and enterprise enchancment, driving promoting and advertising and consciousness of the Vizlink App, and enabling the Raast P2M (Specific person-to-Service supplier) use-case. The aim is to create a seamless and atmosphere pleasant digital funds ecosystem that simplifies transactions for distributors and retailers whereas making sure a user-friendly experience.