Egyptian mobile payments firm EMP has agreed to provide third-party card processing services to Inov8, a digital payments company in Pakistan.
The financial terms of the agreement were not announced. EMP will also provide Inov8 with logistical and other in-country support, EMP said in a press release.
"Pakistan is a potentially enormous market," said Paul Edwards, EMP's executive chairman, in the release. "This is a country which is leapfrogging bricks-and-mortar banking."
Inov8 was established in 2004, and describes itself as "Pakistan's first mobile financial services solution provider," according to its website. The company also provides a range of digital payment products, including SendPesa, a money transfer service, and Falcon, a mobile wallet.
EMP provides mobile banking, money transfer and ecommerce services in developing markets in Africa and the Middle East.
