LAHORE – 27TH April 2022: In a historic industry first, Taro Technologies, a leading BNPL platform, collaborates with Muawin, Pakistan’s first licensed B2B digital lender, to turbocharge Taro’s launch. This partnership will allow both FinTechs to integrate and offer seamless financing for both end customers and merchants across Pakistan.
As BNPL growth booms both globally and locally, Pakistan has taken a leading approach, being one of the first countries to require licensing for BNPL financing. This positions Pakistan as a global leader in consumer protection, ensuring BNPL players are offering fair and responsible loans. Knowing this, it becomes clear why this partnership is so critical: it positions Taro to be the first BNPL company able to lend and scale while keeping Pakistani consumers safe.
Pakistan is also seeing a lending boom in the B2B space, with Muawin being the forefront leader, signing giants in the gig-economy, retail, and agri verticals. Muawin champions building value through fruitful partnerships which aid financial growth for individuals and small businesses, while increasing financial inclusion in the country. As Muawin focuses on B2B BNPL itself, partnering with Taro will allow them to finance end-consumers while simultaneously opening financing opportunities across merchant supply chains that have traditionally found it hard to avail financing.
Muawin’s Co-founder, Moeed, while sharing his remarks at the signing event said:
“Our mission is clear –to leverage technology and partnerships to provide BNPL financing to the huge new-to-credit market in Pakistan. Partnering with Taro in a seamlessly integrated model will help accelerate this journey”
Taro CEO Mustafa Khan agrees:
“In order to become the market leader we need to make moves that others have not made, allowing us to support stable and strong growth. Our industry first partnership with Muawin does just that, and will allow us to offer safe and responsible lending to consumers as we rapidly scale.”
Taro is Pakistan’s first Shariah-friendly Buy-Now, Pay-Later (BNPL) company, offering flexible payment options online and in store. As a BNPL fintech company, we aim to provide a smooth process for merchants to offer their customers easy installment options, with no fees. All while providing merchants with quick settlements, an easy-to-use portal, and increased sales and customer retention, creating value for both parties involved.