Ecommerce platform Bazaar Technologies has acquired payments company Keenu, aiming to create an integrated commerce and fintech ecosystem within the country.
This partnership reflects global models such as Alibaba’s creation of Alipay and Flipkart’s acquisition of PhonePe, where integrating commerce with payments has optimised the landscape.
Bazaar’s officials state that the acquisition of Keenu can transform both the commerce and fintech sectors by creating a platform designed to simplify, unify, and optimise customer experience across the country.
According to the company’s data, Keenu is a digital payments platform that facilitates over USD 1 billion in annual payment volume through its POS terminals, with a merchant presence in more than 150 cities and towns across Pakistan. It is regulated by the SBP as a fully licenced Electronic Money Institution (EMI).
The news comes four months after the Competition Commission of Pakistan (CCP) announced that it had approved Bazaar Technologies' acquisition of 100% ownership in Wemsol (Private) Limited, which operates Keenu.
A response to market challenges
Despite significant growth in mobile development, Pakistan’s digital payments system and financial inclusion remain limited. By combining commerce and payments into a single platform, the two firms aim to deliver an optimal, end-to-end customer experience.
Moreover, the acquisition comes amid rising operating costs for ecommerce players in Pakistan, particularly following the introduction of new logistics and delivery taxes in the Finance Act 2025.
In Pakistan, the total ecommerce volume for 2024 has reached USD 7.7 billion, which accounts for less than 2% of the GDP and lags regional peers.
The acquisition has been approved by the SBP, allowing the two companies to operate independently while maintaining a unified strategic direction.
