Rise and HomeShopping.pk launch product for overseas Pakistanis

Source: IBS Intelligence 2020-06-02

Rise, a FinTech company based in the UAE and, HomesShopping.pk, an e-commerce player in Pakistan, have entered into a strategic partnership to enable overseas Pakistanis to buy goods in Pakistan by making payments in installments in the country of residence.

The collaboration taps into the remittance pool and enables Pakistani migrants to acquire a wide range of durable goods in an affordable manner.

Padmini Gupta, Co-Founder & CEO, Rise stated, “From day one, we have set out to democratize access to financial services for migrants. This partnership takes us one step closer to that goal. There are over 3 million Pakistanis living in the Gulf, the vast majority of which have never had the ability to make purchases back home on installments. Today we are changing that.”

Customers can go to the specially designed site, with a wide range of products curated. They can sign up for an account with Rise and get instant approvals for instant purchases.

Shayaan Tahir, HomeShopping.pk Founder and CEO said, “We are delighted to expand our reach to bring easy installment purchases for overseas Pakistanis. During these challenging times when our fellow Pakistanis are not able to travel back home, specially for Eid, we are pleased to offer them a means to take care of their loved ones back home.”

Rise offers bank accounts that don’t require a minimum balance or salary, remittances, insurance products and consumer loans in both the UAE and migrant home countries.

Last year, it launched an insurance product with Axa, cross-border unsecured loans in the Philippines, a Buy Now, Pay Later product with Carrefour, and a credit fund through Astra Amco. Rise plans to start operations in Saudi Arabia and Bahrain later this year as well as expand its reach to merchants in other markets.

Rise

PARTNERS

financial technology

HomesShopping.pk

Rise and HomeShopping.pk launch product for overseas Pakistanis

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