PaySa and Covalent Forge Strategic Partnership to Accelerate Digital Payments Ecosystem in Pakistan

PaySa, Pakistan’s newest Electronic Money Institution (EMI) with in-principle approval from State Bank of Pakistan, has entered into a strategic partnership agreement with Covalent. The collaboration will enable PaySa to leverage Covalent’s award-winning Taabiir platform to power its business initiatives, expand its merchant acquiring network, and strengthen the digital payments ecosystem in Pakistan.

The signing ceremony was held at Covalent’s new facility, “The Hub,” and was attended by senior leadership and representatives from both organizations. This partnership signifies a growing trend of strategic collaborations between fintechs and technology enablers to accelerate financial inclusion in the country.

PaySa is the first EMI in Pakistan with a primary focus on retail merchant acquiring. The company currently supports more than 5,000 merchant locations through its ISO model, providing businesses with seamless payment acceptance solutions. With the implementation of the Taabiir platform, PaySa aims to scale its operations rapidly and introduce new digital financial services.

Covalent is recognized as one of the leading technology providers to Electronic Money Institutions and fintech players in Pakistan and the Middle East. Its Taabiir platform offers all essential building blocks required to digitally onboard customers and power institutions such as EMIs, digital banks, commercial banks, and microfinance institutions. The platform is fully compliant with local regulations and is designed to offer agility, scalability, and security.

Mr. Ali Adnan, CEO of PaySa, expressed confidence in the collaboration, stating, “PaySa found the perfect partner in Covalent with its fully compliant platform and agile delivery team to seamlessly enable and power various digital services for our customers, merchants, and other entities. Covalent was selected after an extensive evaluation exercise by our team, and we feel that the synergies between both teams will propel us to the next level in a matter of months.”

Mr. Haris Waheed, COO of Covalent, welcomed the partnership and highlighted the company’s commitment to supporting PaySa’s rapid growth. He stated, “Covalent is appreciative of the trust that PaySa has placed in our award-winning Taabiir Platform. We are poised to quickly and efficiently enable our fully compliant platform for PaySa in a matter of weeks. Covalent has powered a highly diversified range of EMIs and fintechs in Pakistan, and we have the expertise to ensure that PaySa’s customers experience the best-in-class services that are a hallmark of our platform.”

This strategic partnership is expected to accelerate the deployment of digital payment solutions across Pakistan, particularly in underserved segments of the economy. By integrating Covalent’s technology stack, PaySa will be able to provide faster onboarding, secure transactions, and a smooth payment experience for merchants and consumers alike.

Industry experts view this collaboration as a significant step toward strengthening Pakistan’s fintech ecosystem. It aligns with the broader national agenda to promote financial inclusion and move toward a cashless economy by enabling a wider range of digital financial services.

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