Pakistan unveils first domestic payment gateway

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KARACHI: Pakistan on Tuesday unveiled the country’s first domestic payment scheme ‘PayPak’ to facilitate ecommerce and improve financial inclusion.

“The new payment (gateway) will compete in the domestic market with other international payment schemes,” the State Bank of Pakistan (SBP) said in a statement. “However, the new card will only be used within Pakistan and will offer the benefit of low cost, ease of affordability and security to ordinary citizens.”