Lahore, Pakistan, October 25, 2023: KalPay, along with Taleem Finance Company Limited, has entered into a tripartite agreement with LUMS to provide Students the opportunity to manage their semester tuition through installment plans. This deal will allow students to study now and pay later with interest-free monthly payments that can be customized to their needs.
KalPay, founded by Mr. Hassan, is a fintech startup that partners with multiple online merchants, providing buy now, pay later (BNPL) solutions to its customers. Along with its expansion into e-commerce, KalPay launched new ventures including KalPayRasayi and KalPayTaleem, expanding its BNPL service to purchase useful assets such as smartphones and pay fees to education and training services. The co-founders of KalPay were also recently named to the Forbes Asia 30 Under 30 List for 2023.
Mr. Shershah Hassan, LUMS Alumni (BSc 2020), Founder and CEO of KalPay, emphasized: “At KalPay, we believe in the power of education and are committed to helping students pursue their dreams. dream without financial barriers. This partnership demonstrates our commitment to supporting the next generation of leaders and innovators.
Mr. Kamran Azim, CEO of Taleem Finance Company Limited, commented: “One of the major challenges faced by all classes in our country is the lack of easy access to finance education. We have a duty to our future generations to make quality education accessible to all.
LUMS is a non-profit university with up to 35% of students receiving financial aid. The school actively conducts annual outreach activities covering 145 villages, towns and cities across Pakistan to seek out bright talent, welcoming students from a wide range of socio-economic backgrounds different. These collective efforts ensure that LUMS continues to deliver transformational experiences that not only change students’ lives but also create a broader impact in their communities.
In the near future, KalPay and Taleem Finance Company will continue to work together to expand the scope of cooperation with other educational institutions and help lay the foundation for a financially prosperous country.
