Warid Telecom and Bank Alfalah Limited announced the launch of their marketing campaign for Branchless Banking Services under the brand name Mobile Paisa in Pakistan with Monet (Pvt) Limited as the technology provider.
The launch aims to bridge the gap between banking services and consumers as it provides advanced mobile financial services, convenience, reliability and security for customers.
The services include money transfer, bill payments and customer mobile wallets. Services for consumers, corporates and G2P will be launched soon. Speaking on Mobile Paisa hitting over 10,000 agents for branchless banking, Warid Telecom Chief Executive Officer Muneer Farooqui said the facility is aimed at making mobile financial services effortless. “In this era of modernisation and technical development, it is essential to digitise and enhance transacting convenience through a secure and swift system,” said Farooqui.
Warid Telecom Director Mobile Financial Services Faisal Khan Sadozai labelled it as the “beginning”. “With aggressive expansion plans, we have a sound strategy towards making Mobile Paisa brand evolve and thrive in coming times. I am looking at Mobile Paisa hitting another 30,000 agents across 1,000 towns in the near future. Pakistan is surely a good market for branchless banking. “
Bank Alfalah Group Head Retail South and New Initiatives Mehreen Ahmed, who leads the branchless banking team, believes the bank is aggressively pursuing the creation of a financial ecosystem that supports innovation through technology.
“Mobile Paisa is yet another reiteration of our commitment to enhancing financial access and inclusion to reduce the gap between the banked and the yet-to-be-banked in Pakistan,” said Ahmed.
Published in The Express Tribune, July 25th, 2014.
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