Mobile banking flourishing in Pakistan

Monday, March 10, 2014

The recent years have witnessed a revolutionary concept of social and economic services among them financial services landscape that are fast changing with introduction of innovative mobile payments (m-payment) systems.

M-payment systems are particularly important for financial inclusion of poor and unserved in formal financial system and thereby are playing a vital role for an inclusive growth and poverty reduction in Pakistan.

Cellular mobile companies and financial institutions in Pakistan have introduced some of the best m-payment models as over last three years, cellular mobile companies have actively engaged in joint ventures with commercial banks for provision of such services.

Source: Daily Times (link opens in a new window)

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financial inclusion, mobile finance, mobile money