NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, July 31, 2017

FINCA Microfinance Bank, one of the fastest growing microfinance banks in Pakistan, has announced a movement to make digital commerce and payments free in the country.

SimSim, a mobile payment platform, was introduced in partnership with Finja – an internationally funded FinTech startup – at a launch event Thursday night at Mohatta Palace, Karachi. The event was attended by major industry stakeholders, government officials, artists, tech enthusiasts and media figures.

Finja, the Fintech partner, developed the technology to enable anyone with a valid CNIC to open a remote zero account in less than one minute through their smartphones. As a consequence, Finca will broaden its outreach to multiple consumer segments including the financially excluded and underserved customer segments.