VISA, a Digital Payment Leader has Inaugurated its Office in Pakistan

An Important Step towards Digital Payment Method in Pakistan

Aug 4, 2023 - 06:03
Aug 4, 2023 - 06:07
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VISA, a Digital Payment Leader has Inaugurated its Office in Pakistan

Visa is a firm that connects people and makes it possible for people, businesses, and economies to flourish via the use of digital payment technology. By connecting more than 4 billion account holders to over 100 million merchants, 15,000 financial institutions and governments in more than 200 countries and territories, VISA has helped level the playing field for those who have been traditionally underserved. Visa, MasterCard and American Express are three of the most popular and widely accepted payment networks in the world. There are different ways that Visa digital payment works, depending on the type of service and device. One way is through tokenization, which is a process that replaces the sensitive card information with a unique digital identifier called a token. Another way is through a 3-D secure, which is a protocol that adds an extra layer of security and authentication for online transactions. In general, digital payments are payments done through digital or online modes, such as mobile apps, web browsers, or connected devices with no exchange of hard cash being involved.

With the new office, which was officially inaugurated on August 2, 2023, Visa aims to strengthen its ongoing talent acquisition strategy by attracting and retaining key talent. The staff's needs were the only consideration in creating the brand-new, purpose-built office space, which supports a hybrid work environment. It is a development of Visa's collaborative, inventive, and inclusive culture. Prior to this, on March 14, 2019, Pakistan started an online visa application process for foreign travellers, which was officially opened by the Prime Minister of Pakistan.

Visa is dedicated to assisting Pakistan's transition to a cashless economy through digital transformation and has noticed a considerably faster rate of growth in the usage of digital payments. The company's numerous cutting-edge technologies implemented over the years have continued to support Pakistan's transition to digital payments. Visa is committed to seizing these prospects in the NALP region while taking into account new developments in consumer payment behavior and payment patterns. Visa's objective is to promote digital commerce for the advantage of customers, companies, and the Pakistani economy as a network that works for everyone, everywhere.

According to Umar S Khan, Visa Country Manager for Pakistan, "it is a place where our employees, clients, and partners can seamlessly collaborate to create solutions, develop user experiences, and share ideas - all with the goal of assisting businesses, individuals, and economies to thrive."

By empowering fintechs through partnerships with the Visa Acceptance Cloud and delivering low-cost acceptance solutions like Click to Pay and Tap to Phone for SMBs, Visa continues to assist the expanding payments ecosystem and digital economy in the area.

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