Pakistan's financial market has gone through acute economic pressure and witnessed liquidity of wealth from the formal into the grey economy. An increase in Debit and Credit cards issued did not match the rate of increase in digital touch points. Large acquiring banks have found it difficult to work with small and micro merchants.
With the aim to cater the needs of these Small and Medium Enterprises (SMEs) and include them in the financial ecosystem, Paysys Labs (Pvt.) Limited and Retail Merchant Payment Services (Pvt.) Limited joined hands to form Tapsys. It aims to bridge the gap between an acquirer and merchants by providing hands-on technology platform and merchant onboarding services.