Business

Karachi: Payoneer, the global financial technology company powering business growth across borders, today announced its financial results for the first quarter ended March 31, 2026, reporting continued growth across its SMB and enterprise business segments alongside strong profitability and rising global transaction volumes. Payoneer delivered $262 million in revenue in Q1 2026, representing 6% year-over-year growth, driven by strong momentum across SMB and enterprise customers. Revenue excluding interest income grew 11% year-over-year, while lower global interest rates contributed to a decline in interest income revenue. The company generated nearly $23 billion in total volume during the quarter, up 16% year-over-year, reflecting growing demand for Payoneer’s cross-border payment infrastructure across global trade and digital commerce. The company’s B2B business remained a key growth driver, with B2B volume reaching $3.9 billion during the quarter, marking a 44% year-over-year increase. Volume from SMBs selling on marketplaces reached $11.6 billion, while Checkout volume grew 53% year-over-year to $264 million. Enterprise payouts volume also continued its upward trajectory, nearing $7 billion in Q1 2026 with a 28% year-over-year increase. Payoneer also reported $30 million in operating income and $20 million in net income during the quarter, demonstrating continued operational discipline and profitability. Customer trust in the platform remained strong, with approximately $7.6 billion in customer funds as of March 31, 2026, up 15% year-over-year. Across regions, the company recorded broad-based growth, with Europe, Middle East and Africa revenue increasing 10% year-over-year to $65 million, Asia-Pacific revenue rising 14% to $58 million, and North America revenue growing 10% to $26 million during the quarter.Reflecting confidence in its long-term growth strategy and business momentum, Payoneer also raised its 2026 guidance on May 7, 2026. Commenting on the results, John Caplan, Chief Executive Officer, Payoneer, said: “In Q1 we delivered acceleration across major KPIs: revenue growth ex. interest accelerated to 11%, B2B volume growth more than doubled to 44%, and we delivered another quarter of significant core profitability expansion. We are driving broad-based momentum across our business, supported by differentiated assets that compound as we scale. We have infrastructure built on years of investment and innovation, network effects that strengthen as volumes grow, and platform depth that allows us to meet the needs of how our customers operate globally. We’re a profitable, scaled platform in a multi-trillion-dollar B2B market that’s still in the early innings of digitization, and our strong Q1 results demonstrate we’re capturing share. We are executing consistently, moving fast where we see opportunities, and building a business that’s not just larger, but structurally more valuable, with deeper strategic advantages and stronger customer relationships.” As Pakistan’s freelancer economy, exporters, and digitally enabled SMBs continue to expand globally, Payoneer remains focused on enabling seamless cross-border payments, multi-currency financial services, and international business growth for entrepreneurs and businesses across the country.

ISLAMABAD: Consumer Association of Pakistan Chairman Kaukab Iqbal has urged Senate Finance Committee Members to expand Third Schedule of Sales Tax Act to include essential grocery items such as cooking oil, dairy products, infant formula and frozen food so that retail prices are printed and consumers’ rights are protected. During the meeting, Kaukab Iqbal stated, “Under consumer protection principles, every consumer product should carry a clearly printed retail price to ensure transparency and protect consumers from overcharging.” He pointed out that these products are currently excluded from the Third Schedule requirement regarding mandatory printed prices, resulting in retailers charging different prices from consumers. He emphasized that due to unjustified price fluctuations, consumers often face sudden price jumps on essential household items, causing significant financial burden on the public. He further stated that transparent pricing is essential for safeguarding consumer rights, preventing exploitation, and creating fairness in the retail market. Senator Saleem Mandviwalla, Chairman of the Senate Standing Committee on Finance and Revenue, advised CAP to submit a detailed list of products on which retail prices are not printed, along with other grievances faced by consumers. He assured that the Committee remains available throughout the year to hear consumer concerns and welcomed continued engagement from the Consumers Association of Pakistan.

Karachi, 11th May 2026: Zong, Pakistan’s leading Technology Service Enterprise, and Mashreq Bank Pakistan, have entered into a strategic partnership to enable the integration of telecom services within Mashreq’s digital banking ecosystem, enhancing customer convenience and advancing Pakistan’s digital financial landscape. Under this collaboration, Mashreq customers will be able to access a range of Zong telecom services directly through the Mashreq mobile app, including mobile recharge, bundle subscriptions, and other telecom-related payments. The integration is designed to deliver real-time, secure, and seamless transactions through a unified digital interface. Speaking on the occasion, Mr. Faheem Durrani, Executive Director Sales and Distribution at Zong, said; “This partnership reflects our continued focus on expanding digital access and enhancing customer experience through technology enablement. By integrating our telecom services into Mashreq’s digital ecosystem, we are making essential services more accessible while advancing our journey as a technology-driven service enterprise within Pakistan’s digital landscape.” Muhammad Hamayun Sajjad, CEO, Mashreq Pakistan, added, “At Mashreq, we are committed to simplifying everyday banking and lifestyle services for our customers. As demand for mobile services continues to grow, this partnership with Zong enables customers to access essential services in a seamless, secure and convenient manner through the Mashreq app.” This collaboration underscores Zong’s vision of digital transformation and customer-centric innovation, while highlighting the increasing convergence of financial services and telecommunications in Pakistan. It paves the way for more integrated and interoperable digital solutions across the country.

Karachi, May 11, 2026: National Bank of Pakistan (NBP) has received approval for the commercial launch of Raast Person-to-Merchant (P2M) Acquiring, marking a major milestone in the Bank’s digital payments journey and Pakistan’s broader transition towards a cashless economy. On this occasion, a meeting was held with representatives from NBP’s Digital Banking Group and the State Bank of Pakistan’s Digital Innovations & Settlement Department. The picture was taken with Mr.Muhammad Imaduddin, Director – Digital Innovations & Settlement Department-SBP, Mr.Muhammad Hassan Memon, Assistant Director – Digital Innovations & Settlement Department-SBP ,Mr. Adnan Nasir, Chief Digital Officer / SEVP, Digital Banking Group-NBP and Mr. Zohaib Ali Khan, Divisional Head – Acquiring & Payments-NBP. This milestone reflects the continued guidance and support of the State Bank of Pakistan and Raast Payments Pakistan in enabling NBP to advance its digital acquiring agenda. The approval not only clears the way for commercial operations but also allows NBP to actively promote Raast P2M acquiring among merchants, customers, institutions, and government entities through structured awareness and media campaigns. NBP remains committed to expanding digital acceptance nationwide, particularly across underserved segments, small merchants, and institutional payment ecosystems. The Bank will continue to work closely with regulators, business teams, fintech partners, and merchant communities to accelerate the adoption of digital payments under Pakistan’s cashless economy agenda.

Karachi: Mr. Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), President ECO Chamber of Commerce & Industry (ECO-CCI), SVP SAARC-CCI and Vice President of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), delivered a comprehensive presentation on “Doing Business in Pakistan: Current Trends and Latest Developments during a high-level virtual session organized under the platform of CACCI. The webinar was attended by more than 60 senior representatives, business leaders and chamber members from across the Asia-Pacific region. In his keynote presentation, Mr. Atif Ikram Sheikh highlighted Pakistan’s improving macroeconomic indicators, strategic geographic location, young and skilled workforce, expanding digital economy and wide-ranging investment opportunities in key sectors including agriculture & food processing, information technology, minerals, logistics, renewable energy, tourism, housing & construction, textile and automobile manufacturing. While presenting Pakistan’s economic outlook, he informed participants that Pakistan’s economy is showing signs of stabilization with improving growth prospects, controlled inflation, enhanced foreign exchange stability and renewed investor confidence. He also highlighted Pakistan’s trade agreements, export potential, special economic zones, investor-friendly legal framework and the role of government reforms in strengthening the business environment. During the interactive question-and-answer session, members from various CACCI countries raised important questions relating to Pakistan’s economic fundamentals, industrial competitiveness, regional image and investment climate. Mr. Atif Ikram Sheikh comprehensively addressed queries on Pakistan’s core economic challenges, the role of the Special Investment Facilitation Council (SIFC) as a single-window platform for investors, foreign direct investment trends, Pakistan’s industrial and trade policies, preferential and free trade agreements, textile sector challenges, utility and fuel costs, export competitiveness and sovereign credit ratings by international agencies including Moody’s. He also responded to questions regarding the regional geopolitical environment, including the impact of the US-Iran conflict, Pakistan’s constructive role in promoting regional peace and stability and Pakistan’s emergence as a responsible economic and diplomatic stakeholder in South Asia and beyond. Mr. Atif Ikram Sheikh emphasized that Pakistan offers substantial opportunities for international investors due to its strategic connectivity with Central Asia, the Middle East, China, South Asia, and Europe, making it a natural trade, logistics, and investment hub. He further highlighted FPCCI’s role as the apex trade body of Pakistan representing business, industry, and services sectors, and reaffirmed FPCCI’s commitment to strengthening economic cooperation with CACCI member economies. The participants appreciated the informative presentation and acknowledged Pakistan’s growing economic potential and its strategic importance in regional trade and investment. Mr. Atif Ikram Sheikh thanked Mr. Peter McMullin, President CACCI, Mr. Darson Chiu, Director General CACCI and all member chambers for their active participation and support in making the webinar a success.

Karachi – May 8, 2026: Pakistan Single Window (PSW) and the Trade Development Authority of Pakistan (TDAP) have officially entered into a Memorandum of Understanding (MoU) at the TDAP Headquarters in Karachi. This strategic partnership aims to accelerate the digitalization of Pakistan’s trade ecosystem, focusing on enhancing regulatory efficiency and providing integrated, modern services to the country’s export and import community. As the lead entity for Pakistan’s digital trade transformation, PSW will work closely with TDAP to harmonise export facilitation processes and integrate key digital platforms, including TDAP’s Pakistan Trade Portal and Exporters Directory, into the broader PSW environment. This integration is designed to ensure that traders have seamless, real-time access to vital trade information and services, reducing the reliance on manual procedures. While PSW provides the digital framework for these reforms, TDAP plays a crucial role as the nation’s premier trade promotion organisation. Under the agreement, TDAP will use its extensive network of regional offices, trade associations, and international connections to identify and engage stakeholders who can benefit from PSW’s digital reforms. TDAP will also provide PSW with dedicated space at its flagship local events to facilitate greater outreach and promote the adoption of paperless trade tools. The collaboration also places a heavy emphasis on data driven decision making. The two organisations will engage in secure trade data collaboration to support market analysis and the formulation of evidence-based policies that directly benefit the local trade community. This includes the joint development of export-ready toolkits and compliance checklists to help small and medium enterprises (SMEs) navigate global market requirements more effectively. A significant component of the MoU is the focus on gender responsive trade facilitation. PSW and TDAP will coordinate efforts to enhance the export readiness and digital inclusion of women led enterprises. This includes encouraging entrepreneurs from the WTO Award-winning Khadijah Women Entrepreneurship Program to participate in international exhibitions and delegations managed under TDAP’s annual business plan. Mr. Aftab Haider, Chief Executive Officer of Pakistan Single Window, highlighted the impact of this partnership, _”Our collaboration with TDAP is another step towards creating a unified, inclusive, and equitable trade ecosystem. The TDAP-PSW collaboration will help leverage PSW’s data collection and dissemination capabilities to facilitate targeted interventions by TDAP for cross border trade promotion with a special focus on women entrepreneurs while PSW benefits from TDAP’s experience and expertise to improve its services and knowledge products.” The partnership will also involve joint capacity-building sessions, where PSW will provide orientation for TDAP officers on new digital modules and regulatory updates. This ensures that both organizations provide consistent, high-quality guidance to the trade community, further strengthening Pakistan’s strategic maritime and trade footprint.