Particular Communications Group (SCO) has joined arms with Bank Alfalah for the supply of Interoperable Mobile Financial Providers (MFS) in Azad Jammu & Kashmir (AJ&Okay) and Gilgit-Baltistan (GB). On this regard, a contract signing ceremony was held between the 2 organizations on Thursday, July 16th, 2020.
This collaboration is a step ahead to collectively create the required Digital Financial Providers ecosystem within the areas. SCO has additionally partnered with Bank Alfalah for money disbursement underneath Prime Minister’s Ehsaas Kafalat Program (EKP) in AJ&Okay and GB in April 2020.
This settlement is anticipated to be a catalyst in extending monetary outreach to greater than 6 million individuals across AJ&Okay and GB by way of state-of-the-art and safe Digital Banking Providers.
Via this settlement, a number of providers will probably be prolonged to clients, together with Mobile Wallets for each smartphone and function cellphone customers, utility invoice funds together with SCOM, AJ&Okay and GB Barkyaat and Money in & Money out by way of brokers to fulfill the wants of banked in addition to the unbanked inhabitants of AJ&Okay and GB.
Talking on the ceremony, SCO Spokesperson mentioned, “S-Paisa is continuously expanding its footprint in terms of outreach and the services we offer to bring convenience in the lives of our customers. We are proud to be partners with Bank Alfalah for this initiative, as it progresses our vision and allows us to reduce the current divide between the unbanked and banked population of the region.”
Commenting on the event, an official of Bank Alfalah mentioned, “Being at the forefront of digital banking and financial inclusion in Pakistan, Bank Alfalah understands the significance of providing access to the marginalized and unbanked Pakistanis living in remote areas of GB & AJ&K.”
“This partnership takes us one step forward in our journey towards financial inclusion and empowerment of the unbanked segments of the country. In these tough times, our teams are devotedly working towards seamless disbursements of the Ehsaas Emergency Cash Program hand in hand with partners like SCO and the Government authorities,” he added.