Visa, a global leader in digital payments, has announced a strategic partnership with Euronet Pakistan, the country’s largest acquirer processor, to implement Visa SMS (Settlement Messaging Service), a global initiative designed to modernize the clearing and settlement process across the point-of-sale (POS) acquiring ecosystem. This collaboration aims to transform Pakistan’s digital payment landscape by enabling real-time clearing between POS acquirers and the Visa network, replacing the legacy batch-based offline clearing model.
Visa SMS allows clearing messages to be triggered instantly upon authorization approval, providing immediate clearing advice. This upgrade enhances transparency, accelerates settlement cycles, and empowers participating POS acquirers to offer faster, more efficient clearing services. The solution is expected to strengthen operational efficiency, reduce reconciliation issues, and provide a competitive edge for financial institutions and merchants alike.
Euronet Pakistan, in its role as Visa’s strategic enablement partner, will drive market adoption by coordinating with local POS acquirers, ensuring technical readiness, and supporting the nationwide rollout of real-time clearing services. The company will play a central role in onboarding acquirers, integrating systems, and facilitating a seamless transition to the modernized clearing framework.
Kashif Gaya, CEO of Euronet Pakistan, emphasized the significance of the initiative for the country’s payments ecosystem. He stated that the program will not only modernize infrastructure but also accelerate merchant onboarding, especially for SMEs and underserved segments. By providing faster, smarter, and more transparent payment processing, the partnership aims to foster a more inclusive and future-ready digital economy in Pakistan.
Mohamed Mousa, Vice President at Euronet and Managing Director for Middle East, Africa, and Pakistan, highlighted the broader regional potential of the initiative. He noted that following successful implementation in Pakistan, the program could be extended to other countries in the region. Mousa emphasized that real-time clearing and settlement would improve operational efficiency, promote financial inclusion, and support sustainable economic growth by providing faster and more secure payment processes for businesses and financial institutions.
Umar Khan, Visa’s Country Manager for Pakistan and Afghanistan, described the collaboration as a pivotal step toward modernizing card payments in Pakistan. He explained that faster settlement flows, fewer exceptions, and simplified reconciliation will give merchants quicker access to funds, strengthen cash flow for SMEs, and help acquirers manage liquidity more efficiently. Khan also highlighted that the scalable infrastructure and comprehensive reporting would allow every ecosystem partner to adopt the solution confidently, making digital payments more attractive in Pakistan’s predominantly cash-based retail environment.
The partnership between Visa and Euronet underscores a shared commitment to digital innovation, operational efficiency, and the development of a robust acquiring ecosystem. By enabling real-time clearing and expanding digital payment acceptance, the initiative lays the foundation for a more dynamic, inclusive, and future-ready payments landscape in Pakistan.
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