LAHORE: SimPaisa, the country’s first direct carrier billing company, received Rs25 million in seed funding from Sarmayacar, a syndicate of foreign investors, a statement said on Friday.
SimPaisa enables digital businesses to monetise their products by allowing their customers to make online payments using their existing SIM card balance. SimPaisa is the only payment system in Pakistan to offer the service.
“The capital raised will be used to further invest in SimPaisa, expand the merchant network and scale the operations to other countries,” the statement added.
“The payment platform through its data analytics will allow merchants to optimise conversions by providing insights that the merchants can further develop using artificial intelligence.”
A representational image of gold jewellery. — AFP/fileKARACHI: Gold prices increased by Rs1,000 per tola on Friday...
A representational image of oil pump. — AFP/fileBUDAPEST: Hungary will face fuel shortages from September if full...
A man stacks a gas cylinder in a street stall on July 20, 2024. — ReutersCARACAS/MARACAY: Griselda Ascanio keeps an...
A man looks at a chart on display in an electronic board at the digital trade on June 17, 2022. — AFPGENEVA: Efforts...
People visit the booth of a video game company at the annual ChinaJoy expo. — AFP/FileSHANGHAI: A long-haired...
New British Finance Minister Rachel Reeves speaks at an event in London on July 8, 2024. — ReutersLONDON/RIO DE...