E-Processing Systems’ flagship fintech platform Oneload has joined hands with Kuunda Pakistan. With the aim to solve the liquidity challenges faced by informal micro-retailers and small businesses in Pakistan to grow their businesses and build economic resilience. OneLoad’s retailers can now access real-time transactional liquidity products, working capital loans and other tailored growth financing products across the country.
Oneload is one of the largest mass market financial access platforms in Pakistan, enabling its retailers to deliver telecom, digital payments and banking services to several million unbanked customers each month. OneLoad’s vision is to fully digitize supplier payment settlements and digital payment acceptance for micro-retailers. As of today, Oneload has expanded its network to 50,000+ retailers whilst the company has also received in-principle approval from the State Bank of Pakistan (SBP) to operate as an Electronic Money Institution (EMI).
Kuunda Pakistan has been formed as a Joint Venture between Kuunda Holdings and an embedded finance platform Neem. Kuunda Holdings, with its global footprint, has provided financial access to loans for more than 160,000 informal agents and retailers, worth more than $150 million, through 12.5 million individual disbursements across the globe. Neem is focused on providing Financial Wellness via embedded financial services products to underbanked communities in Pakistan.
With mobile money transactions valuing more than PKR 1.6 trillion in the country with 12% growth last quarter, The liquidity challenges that Kuunda is solving are critical, so the joint venture with Neem in the Pakistan market made for a perfect synergy. Kuunda Pakistan is currently in the process of developing a successful, scalable partnership network to launch and scale the full extent of its product portfolio in Pakistan.
Speaking on the occasion, Muhammad Yar Hiraj, CEO EP Systems said “We want to be the preferred digital and financial partner for the retailer, enabling them to increase their business whilst ensuring their financial wellness. This partnership will help us to further expand our offerings and accelerate business growth for our retailer base”.
Jalal ul Haq, CEO Kuunda Pakistan said “We are the connective tissue within the Pakistan eco-system. Our embedded financing solutions have been built to solve the liquidity problems felt by retailers such as those in the Oneload network, and to enable instant access to transactional liquidity and working capital financing through their mobile phones. We truly believe that this partnership will enable Oneload to grow the productivity of their retailers and expand the usage and distribution of their products – delivering real, tangible results.”
Building on this collaboration, a new range of services will be extended in the Oneload app to enable retailers to access instant liquidity solutions and grow their business, their transaction volumes and enhance their customer relationships.