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 partnership allows the 4.5 million Golootlo customers in Pakistan to take advantage of discounts each time they make a payment transfer through their Golootlo App.
GoLootlo offers partner banks to further augment their bank apps in order to leverage the Golootlo1QR payment service for their customers.
Golootlo will use the 1LINK services to orchestrate account linkage and payment processing for QR based payments for a seamless experience.
Why This Arrangement Works
The primary business of banks is to manage money. Even though every bank offers services such as online banking and mobile money management, having a partner platform integrated into its infrastructure ensures a wider array of customers. There is no concept of “MDR” or “acquiring”, making the end customer less frustrated. The entire transaction amount is transferred to recipient’s nominated bank account, using 1LINK’s 1IBFT rails.
With the adoption of 1LINK’s secure and easy-to-use 1QR channel by the popular Golootlo App, 1Link also sees potential for growth of digital payments as it brings both the consumer and the retail base into the digital payments fold.