26-04-2022
PayCard; the Smart Way to Make Payments

The National Incubation Center at LUMS Lahore has always encouraged and taken in startups that stan for what they believe in. Diversity and contemporary nature of the businesses is something that the startups of NIC are known for. Under this prestigious influence NIC is the proud incubation center for PayCard, a smartcard that

PayCard is the brainchild of a LUMS alumnus Shujaat Ali. It is a contemporary card that allows you to make your over-the-counter payments within a second by simply waving your PayCard in front of a scanner.

It is a newly introduced and a highly convenient and secure contactless payment method that harbors no hassles of PIN codes or signatures.

This is a digital wallet that aims to helping users make transactions in a quicker, easier and a user-friendly way. Paycard started its journey by enabling smart cards with “Near Field Communication” capabilities to make transactions by simply tapping the card on a special terminal to pay.

In order to test the product, the founders of Paycard introduced it within the LUMS Superstore. The product has been taken by Futureonics Pvt. Ltd to ensure maximum productivity and minimum cause of complaints. The founders have demonstrated due diligence by ensuring that not only does their product understand but also follows the rules and regulations of The State Bank of Pakistan. Under this understanding the founders and the minds at Futuretronics have integrated this state of the art product with the SIMSIM wallet. This amalgamation ensures our users are provided the security of transactions.

On July 12th 2018, PayCard was lucky enough to sign a contract with Futureonics and FINJA. Under the promising guidance of NIC and hosted by the establishment itself, this new collaboration is intended to bring the SIMSIM wallet on board with the PayCard platform.

As a result of this fin-tech collaboration, PayCard is all geared up to ensure the experience of making payments is made much not just easier but far more exciting for our users.

It intends to offer them a plethora of nifty ways that will allow our users to maintain their budgets, manage their funds, block their cards without delay in case of loss or theft. Our users will also have the super convenient option to transfer funds to friends or family with just a tap along with several other futuristic features that come with our PyaCard.

PayCard ensures that the priority is always the users. They strive towards providing them convenience, one tap at a time.

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