Checkout.com, Europe’s fastest growing payments provider, has been granted in-principal approval to operated as an Electric Money Institution (EMI) in Pakistan.
The new operator plans to launch a number of financial services in Pakistan including an E-money wallet and E-commerce Payment Gateway for consumers and merchants.
Checkout.com is a global payment provider which offers reliable payments in more than 150 different currencies. It also accepts payments from all major international card schemes, including Visa, MasterCard, and American Express, along with other popular alternatives and local payment methods.
Checkout.com plans to bring a unified offering of all the prominent international payment methods and wallets such as PayPal, AliPay, Apple Pay, and Google Pay, consequently enabling the merchants to pay and run their businesses in Pakistan.
The UK-based company has established its office in the commercial capital of Pakistan, Karachi.
There are total number of 12 EMI registered in Pakistan, four of which have been operational in Pakistan as EMI operators including NayaPay, Finja, CMPECC, and SadaTech. One operator, Wemsol, received permission to commence a pilot project of its services whereas one operator, TAG Innovations, was asked to restrict its operations.