Mobilink has inducted 2700 retailers within the first week of launching Mobicash. The induction of retailers has been based on a strategic spread in both rural and urban areas of the country to maximize financial reach to unbanked and under-banked consumers.
Earlier last week, Mobilink and Waseela Microfinance Bank Limited (WMBL) had launched Mobicash as the latest entrant into the mobile financial services sector. Mobilink’s entrance into Pakistan’s mobile financial services ecosystem heralds the dawn of a competitive environment encouraging customer-tailored product development as well as playing an integral role towards the financial inclusion of the unbanked people of Pakistan.
Mobicash services are available at fast growing retailer network throughout the country ,enabling customers across Pakistan to conduct over-the-counter financial transactions at their convenience. The Mobicash suite of financial services includes Domestic Remittances, Utility Bills Payments and Indigo Bill payments.In coming months, Mobicash will also be introducing a number of ground-breaking offerings such as ‘Mobile Wallets’ which will make it possible for customers to transact money directly through their Mobilink mobile connections.
Rashid Khan, President & CEO, Mobilink highlighted at the launch, “Access to financial services is a basic right, which is hampered by the limited banking infrastructure in Pakistan. However, the widespread access of the mobile phone offers a unique solution for the dissemination of these financial services for the masses. Our vision for Mobicash is to ensure financial inclusion for the people of Pakistan, and we are grateful to the PTA, SBP and Government of Pakistan for providing a robust and conducive business environment where innovation can take root and new business streams can be explored.”
Mobicash is the combined effort of Mobilink and Waseela Microfinance Bank Limited, a subsidiary of Orascom Telecom Holdings, and a sister concern of Pakistan Mobile Communications Limited (PMCL).