Warid Telecom Launches Mobile Banking Service
Published on: 31st Dec 2013
Pakistan's Warid Telecom and Bank Alfalah Limited have launched a Mobile Financial Service (MFS) by the name of 'Mobile Paisa'. The soft launch of 'Mobile Paisa' has been announced with the tagline "Chalta Rahey Pakistan".
'Mobile Paisa' is initially being launched with support for payments of utility bills and a money transfer facility.
Monet is the technology provider who partnered with Fundamo - a mobile platform provider, to utilize its technology and offer branchless banking solutions to banks in Pakistan.
Speaking about the service, Warid Telecom's Chief Commercial Officer, Mr. Younas Sheikh said, "Mobile Paisa has been designed keeping in view today's financial needs. This service will provide a secure channel for daily financial transactions such as money transfer and payment of utility bills."
Monet financial cloud solution has the capability to host multiple banks completely secure and independent from each other. The platform technology and operations have been audited by independent auditors and SBP as well.