KARACHI: Paymob, the leading omni-channel payments gateway and financial technology enabler in the MENAP region, has signed a Memorandum of Understanding (MoU) with COLABS, Pakistan’s largest collaborative workspace, to jointly empower young entrepreneurs to launch and expand their businesses.

The collaboration aims to equip aspiring start-ups with customised programmes and access to relevant material from co-branded workshops, as well as direct access to payment methods through Paymob’s gateway and POS terminals.

Commenting on the partnership, Fawad Abdul Kader, Paymob Country Head in Pakistan said, “This collaboration with COLABS will create a synergy to help digitize the payment needs of merchants. I believe both parties will influence the payment landscape for up-and-coming start-ups in Pakistan.”

Pakistan boasts of a population of over 220 million of which 60 percent comprises of individuals between the ages of 15 to 24. While the majority of this bracket remains unemployed due to a dearth of job opportunities, the adoption of the latest technologies has led to the growth of a technology-based entrepreneurial culture in the country. Consequently, the Punjab Information Technology Board (PITB) pre-emptively launched Pakistan’s first incubator (Plan9) in August 2012 which has now expanded its incubation programmes across the country.

“We are very excited to partner with Paymob and hope to facilitate the COLABS community by creating avenues for entrepreneurs to scale and strengthen their business models through in-depth workshops and networking sessions at our flagship in Lahore,” stated Omar Shah, co-founder and CEO of COLABS.

Copyright Business Recorder, 2022