VISA and VRG sign Strategic Partnership Agreement.

KARACHI PAKISTAN :The SPA brings together VISA the world’s leader in digital payments with its network of networks strategy and VRG technological innovation, in particular incorporating SBP and PTA’s nearly 9
million in their innovative Asaan Mobile Account (AMA) Scheme to help empower the digitization of
payment services in Pakistan and VISA’s Central Europe, Middle East and Africa (CEMEA)
Region. The VISA and VRG partnership seeks to address the World Bank and Pakistan’s “National
Financial Inclusion Strategy” (NFIS) initiative in addressing the specific financial needs and
preferences of the local population particularly women, in tailoring digital payment solutions to
match the diverse demands of Pakistan and VISA’s CEMEA region. This innovative strategic
collaboration is a step towards driving digital transformation across the government sector in
support of Pakistan’s cashless future agenda. The aim is to emphasize the importance, particularly
in emerging markets, of financial inclusion and women empowerment while providing financial
institutions and their customers with more choices when making payments while improving the
end-to-end speed, transparency and better customer experience. The SPA primarily focusses on
streamlining fragmented aspects of the financial ecosystem using the technological strengths of
both entities. By leveraging VISA's global reach and VRG's understanding of the local market
dynamics, showcased on World Economic Forum’s (WEF) SPOTLIGHT DAY by its EDISON
ALLIANCE recently, the agreement intends to bring more individuals and businesses into the
formal financial system by integrating VISA's payment infrastructure and technologies with VRG's innovative financial products and services with a customer-centric approach. This seamless and efficient VISA and VRG’s digital payment ecosystem will ultimately benefit consumers and
businesses throughout Pakistan and VISA’s CEMEA Region.