NayaPay App Review:
Nayapay App is a Pakistan-based payment services startup that offers a mobile wallet with digital and physical cards to help people send and receive money, split bills, and make payments across the country. The platform also hosts other providers’ apps, giving users a single place to access all their financial needs.
TechCrunch reports that the company is currently raising $13 million in a seed round to launch the service in its home market, as well as expand to other countries. Its CEO, Danish Lakhani, says the goal is to create a “super-app” that allows people in Pakistan to connect all their financial transactions and manage their money.
The app is available for Android devices and allows Pakistani residents to sign up by sharing their CNIC or NICOP number. It’s free to join, but you’ll need a verified phone number to make cashless payments. The app also has a virtual Visa card that can be used in addition to the wallet, providing more flexibility. It can be linked to several local banks for now, including Meezan Bank, HBL, and Faysal Bank.
- Once you’ve signed up, you can make payments at any point of sale in Pakistan using your mobile phone. You can even use it to pay for bus tickets, online food items, and courses subscriptions.
- You can also top up your mobile balance and subscribe to mobile bundles. The app also provides detailed transaction logs and instant notifications. If you’re concerned about your security, Nayapay has partnered with a leading cybersecurity firm to ensure all of your data is secure.
- Another feature that makes Nayapay stand out from its competitors is the fact that it’s able to support international transactions. It’s worth noting, however, that there may be additional fees associated with these types of transactions.
- The company’s website lists the current exchange rates and any additional fees you’ll need to be aware of when making an international payment.
- You can also transfer funds to other Nayapay users or link the app with your bank account for added convenience. The company’s website states that it has a variety of security measures in place, including a KYC process, real time transaction monitoring, and fraud management.
- It also offers round-the-clock customer support, so you can speak to a live representative when needed.
NayaPay is a great option for anyone in Pakistan who’s looking to simplify their financial transactions and improve their overall cash flow. It’s easy to use, features a wide range of useful services, and has an excellent security system in place. The only downside is that it’s only available in Pakistan for now. This is a shame, considering how advanced Pakistan is in the field of technology. Hopefully, this will change soon. NayaPay will be able to provide its customers with a wider range of banking options. In the meantime, check out our other expert collections to discover other great companies in the Fintech space.