Dominated mainly by banks and mobile wallets, the digital payments space in Pakistan has garnered a reputation of offering a negative experience to both customers and businesses; but that is where Safepay comes in.
A digital payment facilitator allowing growing Pakistani businesses to seamlessly set up digital payment integration on their platforms, Safepay is making waves in the world of fintech.
Created by Ziyad Parekh and Raza Naqvi in 2019 and incubated at The Nest I/O, the founders recently graduated from the first, entirely remote Batch at Y Combinator, an American seed money accelerator known all over the world as one of the best tools for early stage startups to utilize.
Lasting 3 months, from May till August 2020, the Y Combinator program gives startups a chance to work on their ideas with the partners; they can get advice about everything, ranging from potential investors to hiring their own employees, and guidance that is specifically catered to their startup.
After presenting their startup on Demo Day, Safepay managed to raise $150,000 in investments, which they are putting into expanding their team and reaching more merchants all over Pakistan.
What makes Safepay stand out in the digital payments sphere of Pakistan is not just the smooth and secure user-experience, but also how easy they have made the whole process: as a business, all you need to do is copy and paste their plugin into your website or other platform. After that, your work is done: customers choosing to pay digitally are simply taken to a checkout page and prompted to enter their details.
Safepay is on its way to becoming to Pakistan what Stripe is to America.
The Nest i/O is a technology incubator, an accelerator and a community hub launched by P@SHA, with its global partner Google for Startups.