KARACHI: Karandaaz has partnered with Vizpro to digitise merchant-to-distributor (M2D) payments and expand access to working capital finance for small and medium-sized fast-moving consumer goods (FMCG) retailers across Pakistan, a statement said on Friday.
This strategic collaboration seeks to address deep-rooted inefficiencies in the country’s FMCG retail landscape by minimising dependency on cash-based transactions and enabling access to formal financial services for small merchants, most of whom are currently unbanked and operate within the informal economy.
“This initiative is a bold step towards formalising Pakistan’s vast informal retail sector by enabling small retailers to build digital financial identities. By adopting an all-digital approach, the project aims to demonstrate the efficiency and scalability of servicing micro and small enterprises, setting a precedent for ecosystem-wide innovation in inclusive finance,” said Waqas ul Hasan, CEO of Karandaaz.
Vizpro has digitised over Rs5 billion in M2D payments, onboarded more than 13,000 merchants in Lahore, developed an effective branchless banking agents’ ecosystem, and put in place a strong distributor network in Lahore. Vizpro’s digital platform, Vizlink, will now be scaled to reach an additional 16,000 FMCG retailers in Tier 2 cities across Punjab and in Karachi.
A key component of the project includes the enablement of Raast Quick Response, allowing retailers to accept instant digital payments from customers.“With this partnership, we are now scaling the successful pilot of digitising merchant-to-distributor payments across Tier 1 and Tier 2 cities. Along with that, we are even more excited to pilot and demonstrate a first-of-its-kind fintech innovation in Pakistan that directly addresses the working capital financing gap for small merchants. By bringing order management, digital payments, and working capital financing onto a single platform, this initiative is transforming how business happens at the grassroots level. It’s not just about going digital; it’s about making simple yet necessary tools available for small merchants to thrive and grow,” said Sharjeel Murtaza, CDO at Karandaaz.
