Pakistan’s first buy now, pay later (BNPL) platform, QisstPay will soon launch its online shopping tool for retailers in the United States of America, reported Bloomberg.
According to CEO QisstPay, Jordan Olivas, the startup will hire 200 workers this year to expand its services to the United States and the regional markets for providing one-click checkout solutions to its customers.
QisstPay aims to bank on the e-commerce boom that intensified as a shortcut for US-based customers when many of the country’s big-name merchants and brick-and-mortar businesses either moved online or struggled to maintain operations during the pandemic.
The startup’s CEO opined that the company’s move into the US market “will bring hundreds of jobs to Pakistan and the goal is to become one of the first unicorns in Pakistan.”
It is worth mentioning here that QisstPay’s prospective competitor Bolt Financial Inc. raised $355 million in 2021 to increase its valuation to $11 billion. With their platform, customers in the United States conducted transactions through a single-click checkout option, eliminating the need to fill out tedious forms or remember any passwords. Using such a service offers a much greater conversion rate, according to Olivas.
The development of QisstPay’s potential move into the United States comes after a special year for Pakistan’s startup ecosystem. Known across continents as one of the world’s biggest untapped markets, Pakistan has observed an astronomical surge in startup funding, collecting over $350 million in 2021 alone as opposed to the last six years put together.
As the name suggests, QisstPay is the fastest-growing installment payment service for emerging markets and provides a perfect payment solution to online buyers, merchants, and business partners while increasing their consumer base. QisstPay is a promising game-changer in the world of e-commerce and fintech.
