Pakistan’s Karandaaz and FoodPanda Pakistan has joined forces to expand digital payments there. The collaboration intends to make it easier for customers who order meals through the Foodpanda app and choose the Cash on Delivery (COD) option to switch to digital payment methods like mobile wallets, RAAST ID, debit or credit cards, and mobile wallets. The Covid-19 pandemic hastened the transition to digitalization, and nations with superior digital payment infrastructure fared better during the crisis than those who were later adopters of the technology.
The cooperation aims to improve demand-side knowledge of the advantages of having a bank account and using digital payments by converting FoodPanda users who currently choose COD to digital payment options. As a result, payments will become more digital, new accounts will be opened, and formal pathways for the SME segment to access financing will be made available.
The relationship, according to Waqas ul Hasan, CEO of Karandaaz, would help pave the way for a digital future. He bases this claim on data from the Karandaaz Financial Inclusion Survey, which reveals a strong rise in trust in mobile money services and mobile money agents between 2013 and 2022. Through their collaboration, COD consumers will be successfully converted to full digital users.
Muntaqa Peracha, CEO of foodpanda, stated that the collaboration would encourage financial inclusion in Pakistan through online payments, helping to advance the digital economy and eliminating widespread reliance on cash. In order to promote broader use of digital payments and financial services and ultimately contribute to the creation of a more equitable economy, the partnership will take advantage of Karandaaz’s position as a prominent participant in projects promoting financial inclusion.
