Safepay is a Karachi based fintech company starts operation after pilot approval from State Bank of Pakistan (SBP) enabling customers to pay online easily with Cybersource. Cybersource is a product of international payment giant Visa.
The theme of Safepay is to offer one-window solution to allow customers to pay online using their bank accounts, mobile wallet and Visa and Mastercard.
Safepay is the first Pakistani fintech to have graduated from the prestigious US startup accelerator program Y Combinator and has recently closed another round of funding.
The pilot approval has been granted based on Safepay fulfilling the State Bank of Pakistan’s stringent criteria. The final stage is a commercial license, which is subject to SBP’s satisfactory assessment of pilot operations. The pilot approval allows Safepay to proceed with onboarding merchants and scale its operations.
Ziyad Parkeh is the man behind Safepay. He founded the company in 2017 after working on several startups in silicon valley. While the co-founder, Raza Naqvi, studied law from London, worked a while there, and came back to the country in 2018. A year later, he joined Ziyad to focus on Safepay.