The opportunity to unleash the potential of digital transactions have really gone high in Pakistan due to coronavirus. Many people have shifted their focus on online transfers rather than liquid cash. Pakistan, that already has 80 million 3g or 4g users with expected growth in the eCommerce business by 58% speaks affirmatively for the digital industry. However, due to its reliance on liquid cash, the most trusted of the payments still are COD even while transacting the amount online. Pilot operation approval granted for PayFast.
What Pakistan lacks is a highly protected network that could be secure enough to make online transactions wholly without any liquid cash. This will also help to gain consumer confidence and will reduce the possibility of scam and online theft. Approximately 1500 e-commerce business enables merchants and right now the solution is addressed through PayFast. They have user-centric UI/UX, union pay, and other cards scheme using mobile wallets as an easy instrument for payment.
A digital sign up can be made which is itself is a huge help for the online merchants who want to make online transactions. Not only this, but it also has a very effective Fraud and Risk Management System that ensures the security of no matter how big the amount is. Also, a feature of digital invoicing can also be used which can be sent on various social mediums like WhatsApp, Fb Messenger, Email, or even mobile number. This will be easier for the pilots and others as well
