1LINK (Pvt.) Limited (1LINK) and Decagon Pakistan (Pvt.) Limited (Golootlo) have signed an agreement to enable 1QR as a channel to promote account based digital payments through 1IBFT across Pakistan.
This shall allow Golootlo customers to avail year-round massive discounts by making payments in a convenient and secure manner at Golootlo partners using their bank accounts linked to the Golootlo App. Alternatively, participating banks can further augment their Bank Apps to leverage the Golootlo1QR payment service for their customers.
By virtue of this arrangement, Golootlo will utilize 1LINK services to orchestrate account linkage and payment processing for QR based payments. It allows users to conveniently pay for their purchases while availing exciting Golootlo rewards and discounts by simply scanning Golootlo 1QR placed at the participating outlets.
This is a one of its kind payments model where the customer avails discounts in a frictionless manner. There is no concept of “MDR” or “acquiring”, and hence recipient outlet/business/person pays no MDR or fee, and the entire transaction amount is transferred to recipient’s nominated bank account, using 1LINK’s 1IBFT rails.
CEO 1LINK Mr. Najeeb Agrawalla emphasized the importance of this milestone in the journey of Pakistan’s rapidly transforming payments landscape, and said, “this marks an important shift in how we envision driving consumer payments in light of the State Bank of Pakistan PSD circular 02 of 2019 on ‘Standardization of QR Code for payments in Pakistan’ and the agenda of digitizing payments in Pakistan through ubiquitous and cheaper means like the QR. With theadoption of 1LINK’s secure and easy-to-use 1QR channel by the popular Golootlo App, we see immense potential for growth of digital payments by bringing both consumer and widespread retail base into the digital payments fold.”
CEO Decagon Mr. Fahad Mahmood, commented on this partnership and said, “The Golootlo App has received immense popularity amongst mobile phone users in Pakistan and has currently over 4.5 million users. Through this partnership, Golootlo will be offering a unique opportunity to its customers to make payments through their Golootlo App or Bank Apps by scanning Golootlo 1QR. Banks are urged to sign-up quickly for Golootlo 1QR arrangement and join this exciting journey.”