Pakistan Post signs deal to digitise money order service

Under the agreement, Karandaaz Pakistan will provide technical support to design 'mobile money order'

APP October 27, 2016

ISLAMABAD: Pakistan Post and Karandaaz Pakistan have signed a partnership agreement to digitise the money order service at Pakistan Post.

Under the agreement, Karandaaz Pakistan will provide technical support in designing a new product, `mobile money order’, from conceptualisation to deployment, said a statement issued Wednesday.

The agreement was signed between Pakistan Post DG Fakir Syed Shaharyaruddin and Ali Sarfraz Hussain, Karandaaz Pakistan CEO, at a ceremony. Karandaaz team’s technical knowledge and its funding support will assist Pakistan Post in the identification of managerial and technical requirements for the new service and will strategise a complete business plan.

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The project is envisioned to improve Pakistan Post’s service penetration and also create new revenue streams.

Speaking at the occasion, Pakistan Post DG said that this project would help improve the service channel penetration from 6.5 to 30 per 100,000 persons by 2020 and offer a new portfolio of financial services via the digital platform.

Meanwhile, Hussain said, “Karandaaz is committed to enabling greater financial inclusion for currently underserved rural populations.”

Published in The Express Tribune, October 27th, 2016.

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