SECP Grants QisstPay the First-ever Buy Now, Pay Later license in Pakistan –


As the title implies, QisstPay is the quickest-rising installment cost carrier for creating markets, offering a cost technique to on-line consumers, investors, and industry companions whilst increasing their client base. It is Pakistan’s first BNPL (Buy Now, Pay Later) initiative, and it has the possible to be a recreation-changer in the global of e-trade and fintech.

QisstPay

On December 21, 2021, the Securities and Exchange Commission of Pakistan (SECP) granted QisstPay, a Buy Now, Pay Later (BNPL) license, the first-ever BNPL license in Pakistan. This Non-Banking Finance Company (NBFC) license is the first of its sort granted through the SECP to a brand new fintech idea, opening up Pakistan to large investments in the fintech sector and permitting the adoption of latest fintech ideas.

This license, consistent with Jordan Olivas, the corporate’s co-founder and CEO, is an important first for the corporate. QisstPay is now Pakistan’s first and handiest legally working BNPL, with long run plans to make bigger into spaces corresponding to car financing, house financing, microfinancing, and leasing.

QisstPay

The license lends credibility and authenticity to QisstPay’s Buy Now Pay Later platform, which supplies shoppers with a versatile solution to pay on-line in equivalent, pastime-unfastened installments in a regulated surroundings. The further authenticity supplied through a certified entity allows the platform to supply the BNPL revel in to traders and customers who’ve been given safety when taking part with a web-based retail market. Even extra importantly, this license will permit QisstPay to make bigger into different lending verticals corresponding to space financing, automobile financing, micro-lending, and others.

QisstPay’s most up-to-date problem is convincing each shoppers and traders to make use of this new product as a result of it’s the first participant in the box of BNPL services and products. QisstPay CEO Olivas believes that through focusing only on an advanced and distinctive marketplace like Pakistan’s, the corporate will reap vital advantages in 2022.

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The Buy Now, Pay Later fashion supplies shoppers and traders with a handy and clear revel in. It permits shoppers to select how and after they pay for pieces from a depended on emblem, whilst additionally offering a unbroken revel in sooner than and after checkout by way of choices to get right of entry to pastime-unfastened BNPL provides. The BNPL license provides further client coverage, subsidized through 0 legal responsibility fraud coverage, that isn’t these days to be had with maximum BNPL choices.

QisstPay supplies pastime-unfastened installments to its purchasers and promotes 60% upper visitors and, because of this, upper-order charges, ensuing in an building up in gross sales. QisstPay makes a speciality of service provider and buyer acquisition through permitting BNPL services and products, which inspires better expansion.

Also learn, Pakistanis must Wait Until at Least 2023 to Use 5G Internet



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