In a significant development for Pakistan’s digital financial ecosystem, Euronet Pakistan has entered into a strategic partnership with Smart 1 Tech Pvt Ltd to strengthen the country’s point-of-sale (POS) acquiring infrastructure. The alliance aims to enhance the reach and efficiency of digital payments while promoting financial inclusion across urban and rural regions of Pakistan.
Euronet Pakistan, a global leader in electronic financial transaction processing, and Smart 1 Tech, a rapidly growing digital payments and fintech solutions provider, have joined forces to develop and deploy a robust and scalable POS acquiring network. This collaboration is set to facilitate merchants, financial institutions, and consumers by offering seamless card-based payment experiences, particularly in underserved and unbanked areas.
The partnership comes at a pivotal moment for Pakistan’s financial technology landscape, as both public and private sectors are intensifying efforts to digitize financial services and bring more of the population into the formal economy. With mobile wallets, internet banking, and digital POS systems gaining momentum, this initiative is positioned to further accelerate the shift away from cash-based transactions.
Under the agreement, Euronet Pakistan will leverage its state-of-the-art electronic payment platform and global expertise in secure transaction processing, while Smart 1 Tech will utilize its local market knowledge and merchant relationships to drive POS terminal deployment and user adoption. The joint venture is expected to result in thousands of new merchant touchpoints nationwide, enabling small businesses and retailers to accept debit and credit card payments with ease.
Executives from both companies have expressed their shared commitment to making digital payments more accessible, inclusive, and efficient. By working together, they aim to empower merchants with cutting-edge technology and financial tools that will help improve customer service, enhance revenue streams, and integrate them into the broader digital economy.
The strategic collaboration also aligns with the State Bank of Pakistan’s broader vision for a cash-lite economy and the government’s financial inclusion goals under the National Financial Inclusion Strategy (NFIS). It supports the drive to expand digital payment channels, reduce reliance on cash, and foster a secure and interoperable payments ecosystem that benefits consumers and businesses alike.
Furthermore, the partnership is expected to address key challenges in the POS space, such as low penetration in rural areas, high operational costs for merchants, and lack of awareness about the benefits of digital payments. By bridging these gaps, Euronet Pakistan and Smart 1 Tech are setting the stage for long-term growth and sustainability in the fintech sector.
As the financial services industry continues to evolve with technology-driven innovation, collaborations like this serve as catalysts for progress. By combining international expertise with local insight, Euronet Pakistan and Smart 1 Tech Pvt Ltd are taking meaningful steps toward building a more inclusive, efficient, and digitized financial infrastructure for Pakistan.