Online Payment Methods in Pakistan

Online Payment Methods in Pakistan

The eCommerce industry in Pakistan has evolved largely since the pandemic, affecting businesses and the market to a great extent as more and more people are opting for at-home comfort. In today’s digital era, any business or customer needs to be well informed on the online payment methods especially the ones that are operating successfully and securely in Pakistan. Although the traditional COD method still serves, Payment gateways have made a significant impact on the overall health and development of the eCommerce industry. The digital world is still amassing great momentum in the economy of the world.

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And for this reason, this blog aims to discuss the payment gateways and their functions that are mostly being used in Pakistan.

“A boost of $36 billion and a 7% GDP boost by 2025 is projected in a McKinsey Global Institute report on how digital finance would be a catalyst for these projected boosts, expected to create 4 million new jobs if it should keep growing.”

A payment gateway operates like a middle-man, providing financial services to both ends that are secured and fast. People use online payment gateway in Pakistan for e-commerce such as online retailing, online shopping, online bill payment, e-business, etc. It allows the consumers with an automatic process through their debit and credit card.

Payment getaway highly depends on the nature of your business. Other than the targeted audience, and product/service market; there are many factors that need to be taken into consideration before choosing the type of payment gateways such as effectiveness, payment flow, simplicity, service care, mobile app, service charges, integration, and checkout process.


1. Bank Transfer:

To make a bank transfer payment, all you have to do is enter the bank name and account number of the receiver in your bank mobile app. It is the easiest and fastest transaction method.


2. Wire Transfer:

Wire transfer works by sending payments through a network to any bank in the world. It is sent from one bank to another using a SWIFT code. People from any part of the world can make financial transactions securely.


3. EasyPaisa

Easypaisa was the first digital payment in Pakistan that was launched by Telenor and Tameer Microfinance Bank in 2009. A mobile application that lets users send and receive money. The EasyPaisa application also lets you recharge mobiles, buy data bundles, do online shopping & pay utility bills. The company is the third largest and has 7.4 million users.


4. JazzCash

The telecom operator Jazz introduced JazzCash in 2012 which is also a wallet-based payment system allowing users to send/receive payments, recharge mobiles, purchase data bundles and pay utility bills. It was formerly known as MobiCash.


5. Upaisa

Upaisa was launched by the telecom operator Ufone in 2013. It is a wallet-based payment method allowing users to make online transactions, pay utility bills, and recharge mobile phones. The company also offers debit cards and all other online financial services that any bank can provide.


6. Payoneer

An online payment system that is mostly used by online businessmen and freelancers all over Pakistan. Payoneer is a debit card, which users can use to draw cash via ATM and send money into their bank accounts. At the moment, Payoneer has 4 million customers. The company offers a very low transaction fee.


7. GoLootLO

A debit card-based payment system, GoLootLo was emerged by the National Bank of Pakistan. It is an online wallet that the user must recharge to operate. Customers can only make use of this system for the retailers that are registered and offering a discount.


8. PayPak

Founded in 2016, PayPak is a national payment system that was introduced in Pakistan by 1Link under the registration of the State Bank of Pakistan to provide financial services and save inter-change costs of International Payment Schemes. Currently, there are 20 banks that are operating through this payment method. A debit card system – PayPak can be used on any ATM and POS terminal in the country.


9. MoneyGram

Moneygram is also an American money transfer company that operates in Pakistan. The money gram method is specifically used to receive payments sent from abroad. A secret code is generated at the time of transaction which is needed for the receiver to get the payment.


10. Western Union

Western Union is an American multinational company used to send and receive money. This money transfer method is used globally. All you have to do is give the receiver’s location and ID number. A small fee is to be paid to transfer money. The user can also exchange currency through the western union. It is the largest and most used company providing online transactional services in 200 countries.


11. Ria Money Transfer

Ria Money Transfer has become one of the top money transfer companies in the world, specializing in money remittance. It provides online money transfers from one location to another. Amongst Pakistan, the company operates in many other countries as well. Users can send money within or outside of Pakistan.

To send money all you have to do is provide your name, number, address, and the receiver’s phone number, along with bank details. After all the details have been given, the transaction can be made.


12. Keenu Wallet

Keenu Wallet is a digital application that works as an electronic card. Owned by Wemsol Private Limited, it lets the customers exchange money through an electronic device. To register you need to set up a profile and link your account with it. Their transaction process is equipped with the latest security feature for a safe and rewarding payment flow.


13. FonePay

Driven by Mastercard, FonePay was the first and biggest electronic payment method introduced in Pakistan offering effective and easy-to-use goods and lifestyle services for businesses.

If you are running a business, all you have to do is sign up on their website and link your bank account with their platform. Businesses can receive payments from their clients with the help of QR codes. Similarly, customers or clients can also register on their website. One of the most compelling features of FonePay is that allows the customer to use multiple bank accounts.

If you liked our blog, talk to us by telling us about the payment method that you find the most convenient and fast. Keep reading Graana blogs to stay ahead and informed.

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