When we mention the best payment gateways in Pakistan, we’re only talking about the fancy digital methods used in online stores. This image indicates that Pakistan’s cash-centric economy is no longer what it used to be.
Would you believe it? In 2024, digital commerce is expected to be the biggest market, with a projected total transaction value of US$16.41 billion. So, online and electronic payments have actually outstripped old-school paper transactions. As the younger generation steps into the workforce, they’re really shaking things up in Pakistan’s payment scene.
So, let’s get down to business and explore the top payment gateways in Pakistan.
What Is A Payment Gateway?
To take payments online, businesses use something called a payment gateway. It’s like the digital version of the card reader you see at a store’s checkout counter.
These gateways make sure credit card payments for online shopping are secure by encrypting sensitive information, like card numbers, as it travels from the customer to the seller. They also keep an eye out for fraud, which helps protect both customers and businesses. That’s why payment gateways are a must-have for any e-commerce operation.
Why Do E-Commerce Businesses Prefer Payment Gateways?
E-commerce businesses love national and international payment gateways in Pakistan for several reasons. First off, they’re super secure because they encrypt transactions, keeping credit card details safe. Plus, they make buying stuff online a breeze—no more filling out endless forms or entering information multiple times.
On top of that, payment gateway providers often throw in discounts and rewards for regular users, which can cut down on processing costs and boost sales. It’s no wonder e-commerce people love them!
Best Payment Gateways In Pakistan
The choice of an appropriate payment gateway is of paramount importance when managing an online store. It enables you to accept payments from customers using various methods, such as bank transfers, credit cards, or debit cards, while ensuring the security of all user data through encryption and anti-fraud protections.
It might be a bit of a challenge to sort through all the possibilities to find the one that is most suitable for your business. I have compiled a list of eight of the best local and international payment gateways in Pakistan to help you out.
1. EasyPaisa
We’re all pretty familiar with Easypaisa—it’s one of the best mobile payment gateways in Pakistan, and it’s really changed the game in mobile banking. Over time, it’s become the go-to option for sellers because it makes sending and receiving payments as easy as a few taps.
What truly sets it apart is its ease of use. On top of that, Easypaisa is continuously evolving and adding support for new platforms. It is currently compatible with WooCommerce, OpenCart, Magento (Adobe Commerce), and PrestaShop, among others.
And with over 10.5 million active users every month, it’s clear that Easypaisa is a hit among customers. The stats definitely back that up!
2. JazzCash
JazzCash and Easypaisa share a common background. They are the crown jewels of two famous Pakistani telecommunications companies. JazzCash belongs to Jazz (formerly Mobilink), while Easypaisa is under Telenor.
When it comes to mobile wallets and payment gateways, JazzCash is right up there with Easypaisa. Online registration is quick and easy, so businesses may start taking payments immediately. In fact, they have the capability to create QR codes for particular amounts. Additionally, the app provides some businesses with the option to borrow up to Rs. 50,000 and pay it back quickly.
3. Top Banks Payment Gateways
When looking for a credit card payment gateway in Pakistan, many companies use Habib Bank Limited (HBL). With its vast network and reputation for reliability, HBL provides a strong payment processing solution for both domestic and international transactions. Most major credit cards, debit cards, mobile wallets, and internet banking are all compatible with it. Companies value HBL’s robust security features because they guarantee the safety of their transactions and help to detect and prevent fraud.
Omni from United Bank Limited (UBL) is another top choice. With UBL Omni’s flexible payment solutions, companies may easily take payments through a variety of channels, including internet banking, QR payments, and mobile wallets. Any company, no matter how big or small, can use it because of its intuitive interface and extensive network. Businesses in Pakistan rely on UBL Omni as a payment processing partner because of its stellar reputation for customer service and support, which allows them to swiftly resolve any issues that may arise.
Many people often wonder: “Which bank account is best for Amazon sellers in Pakistan?” Well, when it comes to choosing a bank account, HBL, Standard Chartered, UBL, and MCB are top picks. These banks are favored because they support international payments, offer reasonable currency conversion fees, provide excellent customer support, and have user-friendly mobile apps for managing transactions easily.
4. PayPal
One of the most popular options among the several payment channels for international payment gateways in Pakistan is PayPal. People all over the world can send and receive money online with ease and security using this method. Many people also prefer to use PayPal when they shop online.
Users in Pakistan are drawn to PayPal due to its added services. For example, you can manage subscriptions and other monthly expenses with ease by setting up recurring payments. In addition, you can easily manage your funds with PayPal because it facilitates transactions with multiple local Pakistani banks.
One major drawback for businesses based solely in Pakistan when it comes to PayPal is that they cannot create PayPal accounts here. Many people often wonder: “Can we make a PayPal account in Pakistan?” The simple answer is no. PayPal doesn’t operate directly in Pakistan due to limited business opportunities and concerns about fraud risks.
Because of this, if you’re in Pakistan and need payment solutions, you’ll have to explore alternative options for payment gateways. However, if your company is registered abroad, you can create a PayPal account under the company’s name and use it for sending and receiving money in Pakistan.
5. Payoneer
Payoneer is a payment gateway that helps businesses handle international payments smoothly. It comes with a bunch of cool features that make it a great option for businesses in Pakistan. For starters, it processes payments quickly and offers competitive exchange rates, which is a big plus.
Plus, Payoneer gives you flexible payment options and protects your business with services that guard against fraud and support buyers. They’ve also got round-the-clock customer support, so you can reach out anytime you need assistance.
In conclusion, if any ecommerce business is trying to figure out the best international online payment method in Pakistan, they should look no further than Payoneer.
6. FonePay
Launched in 2019, FonePay is a Pakistani payment gateway that aims to simplify the process of accepting payments for local businesses. Among its characteristics are the ability to handle merchant transactions, quick money transfers, and QR code payments. Since its launch, FonePay has processed over $1 billion in transactions and has gained popularity among 10,000 businesses across Pakistan.
Businesses using FonePay enjoy perks such as low transaction fees, quick payment processing, and the ability to handle multiple currencies. It places an emphasis on security, making sure that companies can securely receive payments while protecting client information.
In short, FonePay is an accessible and trustworthy option for Pakistani businesses seeking a best payment gateway.
7. 2Checkout
You might not have heard much about 2Checkout in Pakistan because it’s not a local payment gateway—it’s actually run by Verifone, a big company based in the US. So, why are we bringing it up? Well, you’ve probably noticed that most gateways talk about working with WooCommerce and Magento, but they stay quiet on Shopify.
That’s because none of the previous gateways on the list can be used with Shopify at all. So, what’s the best payment gateway in Pakistan for Shopify?
From our experience as a top eCommerce development company here, many Shopify merchants prefer 2Checkout. It supports over 45 payment methods and operates in more than 200 countries. You can also add extra modules to get everything you need for your online store in one place.
Plus, it’s the top choice as an alternative to PayPal for international transactions.
8. NayaPay Arc
Small merchants in Pakistan often find themselves left out of the banking system. Many times, banks simply won’t work with them. That’s why NayaPay is saying, “Size doesn’t matter this time.” Whether you’re a tiny shop owner or a big retailer, everyone can use NayaPay Arc.
Setting it up is super easy. Once you sign up, as a merchant, you just create a payment link and share it with your customer. You can send it through social media, text, or any other way you like. Then, customers can pay however they want with credit cards, debit cards, QR codes, or even bank transfers.
So, Which Payment Gateways Are You Going To Prefer For Your Ecommerce Store?
And that’s the end of our riveting article on the best payment gateways in Pakistan. Before you rush into signing up for any of these platforms, we highly recommend indulging in a painstakingly detailed analysis. Given the gravity of the decision at hand, it seems reasonable that we should weigh all of the benefits and drawbacks carefully.
If you’re struggling to pick the right payment gateway for your online business, reach out to Munir Ahmad, one of Pakistan’s leading ecommerce experts. His team will guide you every step of the way, ensuring you avoid any pitfalls or shady dealings. Get in touch for a free consultation today!