The service is launched in collaboration with Monet (Pvt.) Limited as the technology provider, who are using the technology of Visa International, to offer branchless banking solutions to banks and telcos nationwide.
Both Warid Telecom and Bank Alfalah Limited aim to bridge the gap between banking services and consumers while providing state of the art mobile financial services, bringing convenience, reliability and security all together for their customers.
The available services include Money Transfer,Bill Payments and Customer Mobile Wallets while more services are in the pipeline for consumers, corporates and G2P which will be launched soon. The companies understand the importance of timely payments of bills and transfer of money and other financial needs of customers, hence intend to provide convenience to its consumers accordingly.
Speaking on Mobile Paisa hitting over 10,000 agents for branchless banking, Warid Telecom’s Chief Executive Officer, Mr.Muneer Farooqui said, “We are constantly growing in every aspect, Withone of the top ARPUs, our brand is acknowledged as the most reliable and transparent in the Industry. Our branchless banking brand, Mobile Paisa, is aimedat making Mobile Financial Services effortless task for our consumers. In this era of modernization and technical development, it is essential to digitize and enhance transacting convenience through a secure and swift system. With the strong backing of the Abu Dhabi Group, we are constantly putting every effort to ensure that we remain unmatched in providing innovative services to our valuable customers. Bank Alfalah is one of the biggest banking institutions in Pakistan and this is the edge that Mobile Paisa enjoys over its competitors in this telecom-banking collaborative product.”
Commenting on Mobile Paisa, Warid Telecom’s Director Mobile Financial Services, Mr. FaisalKhan Sadozai said, “As we hit over 10,000 agents in a very short span of time, I call it 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 very near future. Pakistan is surely a good market for branchless banking. Our key objective is to make things easier for the people while adding more possibilities through Mobile Paisa with strong focus on financial inclusion of the unbanked population of Pakistan. Mobile Paisa is set out to revolve around customer convenience and trust and we are continuously working to bring in new and exciting products for our valuable customers.”
Mehreen Ahmed, Group Head Retail South and New Initiatives who leads the branchless banking team at Bank Alfalah, commented,“Bank Alfalah 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 in order to reduce the gap between the ‘banked’ and the yet-to-be-banked’ in Pakistan.”
