CreditBook
Payment Acceptance Pilot
This report provides an overview of a payments acceptance pilot run in Pakistan by CreditBook in partnership with MCBI, OPAY, and Bank Alfalah. The pilot was conducted in Karachi and Lahore and aimed to deploy POS machines and QR Codes for MSMEs to accept digital payments.
The pilot was conducted in order to determine whether payment acceptance was a viable initiative through which CB could better serve as a full stack ERP for retail businesses, increase revenue for these businesses by providing new digital payment acceptance methods, and enable access to a range of ancillary products, such as lending and savings.
The following report outlines the methodology, reflection, analysis, and recommendations of the report, supplemented by a discussion on the relevant regulations, as well as potential approaches to scale POS-based payment acceptance in the country.
Key Partners
MCBI
Payment Solutions Partner
OPAY
Payment Solutions Partner
Bank Alfalah
Banking Partner
Pilot Objectives
- Determine whether payment acceptance was a viable initiative for CreditBook
- Better serve as a full stack ERP for retail businesses
- Increase revenue for businesses by providing new digital payment acceptance methods
- Enable access to a range of ancillary products, such as lending and savings
Geographic Scope
Karachi
Pilot deployment of POS machines and QR codes in Karachi MSMEs
Lahore
Pilot deployment of POS machines and QR codes in Lahore MSMEs
Payment Methods Deployed
POS Machines
Point-of-sale machines deployed to MSMEs for accepting digital card payments
QR Codes
QR code payment acceptance for mobile-based digital transactions
Project Report
The comprehensive report includes:
- Methodology
- Reflection and analysis
- Recommendations
- Discussion on relevant regulations
- Potential approaches to scale POS-based payment acceptance in Pakistan
Payment Acceptance Report
Note: Full report document available upon request
Interviews
Comprehensive stakeholder interviews were conducted as part of the pilot research and analysis process.
Process
The pilot process involved extensive research, stakeholder engagement, and iterative refinement of the payment acceptance solution.
Research Phase
Deep MSME research to uncover pain points and shape financial solutions
Pilot Deployment
Drove QR & POS pilots with 40+ stakeholders and onboarded 3,000+ merchants
Analysis & Insights
Delivered insights that saved millions in misinvestments
Product Development
Fueled "Bachat Box" pilot with 1,000+ signups based on research findings
Key Outcomes
- Successfully deployed POS machines and QR codes in Karachi and Lahore
- Onboarded 3,000+ merchants during the pilot
- Conducted pilots with 40+ stakeholders
- Delivered insights that saved millions in misinvestments
- Fueled "Bachat Box" pilot with 1,000+ signups