VISA and VRG sign Strategic Partnership Agreement
KARACHI ( Web News )
The SPA brings together VISA the world’s leader in digital payments with its network of networks
strategy and VRG technological innovation, in particular incorporating SBP and PTA’s nearly 9
million in their innovative Asaan Mobile Account (AMA) Scheme to help empower the digitization of
payment services in Pakistan and VISA’s Central Europe, Middle East and Africa (CEMEA) Region.
The VISA and VRG partnership seeks to address the World Bank and Pakistan’s “National Financial
Inclusion Strategy” (NFIS) initiative in addressing the specific financial needs and preferences of the
local population particularly women, in tailoring digital payment solutions to match the diverse
demands of Pakistan and VISA’s CEMEA region. This innovative strategic collaboration is a step
towards driving digital transformation across the government sector in support of Pakistan’s cashless
future agenda. The aim is to emphasize the importance, particularly in emerging markets, of financial
inclusion and women empowerment while providing financial institutions and their customers with
more choices when making payments while improving the end-to-end speed, transparency and
better customer experience. The SPA primarily focusses on streamlining fragmented aspects of the
financial ecosystem using the technological strengths of both entities. By leveraging VISA’s global
reach and VRG’s understanding of the local market dynamics, showcased on World Economic
Forum’s (WEF) SPOTLIGHT DAY by its EDISON ALLIANCE recently, the agreement intends to
bring more individuals and businesses into the formal financial system by integrating VISA’s payment
infrastructure and technologies with VRG’s innovative financial products and services with a
customer-centric approach. This seamless and efficient VISA and VRG’s digital payment ecosystem
will ultimately benefit consumers and businesses throughout Pakistan and VISA’s CEMEA Region.