A partnership for internet payments
LAHORE: Inov8 Limited, Pakistan’s premier mobile commerce and payments provider, has partnered with Monami, a leading aggregator operating in North America and the region, to offer internet payments in Pakistan.
This is for the first time that such a large portfolio of internet payments, including leading names such as Google Play Store, Apple App Store and iTunes, Skype, Netflix, Play Station, Steam, Xbox Live, and World of Warcraft payments amongst more than 50 others, are being made available locally to Pakistani customers under the name “Cardwalla”, says a press release by Monami.
Inov8’s AllPay platform is being used to make these payments available to Pakistani customers to all banking channels in Pakistan including mobile banking, branchless banking, internet banking, ATMs, POS, as well as bank and retail counters against cash.
“Inov8 has been working to grow the mobile payments industry in Pakistan since 2004. Today we have one of the largest offerings of our products and services as well as one of the biggest client portfolios in the region,” says Bashir Sheikh, president and co-founder Inov8 Limited.
Sheikh says estimates suggest a $60 million e-commerce market size in Pakistan with most internet payments being made informally. “This number is expected to grow to $500 million by 2017, and with the Cardwalla service, we are providing a convenient means to pay through formal channel.”
Monami chairman Ammar Afif says: “We are enabling the Pakistani consumer to become a global consumer and access international products. This is the first phase of Monami’s roll out of a 100 per cent free home remittance option for Pakistanis around the world.”