Visa (NYSE: V), the world’s leader in digital payments, has signed a Strategic Partnership Agreement (SPA) with VRG (a Pathfinder group company). This collaboration is a strategic step towards driving digital transformation across the government sector in support of Pakistan’s cashless future agenda.
The SPA includes a number of offerings including best practices between Visa and VRG, primarily focusing on streamlining fragmented aspects of the financial ecosystem using the technological strengths of both entities. Working together, the organizations aim to provide financial institutions and their customers with more choices when making payments while improving the end-to-end speed, transparency, and better customer experience.
The partnership emphasizes the importance of financial inclusion, particularly in emerging markets. By leveraging VRG’s understanding of the local market dynamics and Visa’s global reach, the agreement intends to bring more individuals and businesses into the formal financial system.Visa and VRG will work together to integrate Visa’s payment infrastructure and technologies with VRG’s innovative financial products and services. This will result in a more seamless and efficient digital payment ecosystem, ultimately benefiting consumers and businesses.
Both Visa and VRG share a commitment to a customer-centric approach. This partnership will seek to address the specific financial needs and preferences of the local population, tailoring digital payment solutions to match the diverse demands of the region.
Muhammad Salman Ali, CEO, VRGsaid“We have always been committed to excellence and innovation, and this partnership exemplifies our dedication to finding opportunities that will drive us forward. Through collaboration, we can leverage the strengths and expertise of both parties to create added value for our customers, shareholders, and employees.
Our partner Visa, in this endeavor, shares our vision and values, and together, we aim to enhance our product/service offerings to better meet the needs of our customers along with exploring new markets and opportunities for growth.
This partnership with Visa holds the potential to have a positive and lasting impact on the lives of many people in Pakistan.
