Published On: Thu, Jan 2nd, 2014

Warid and Bank Alfalah Launch Mobile Paisa

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Corporate News (Pakistan News) warid

Corporate News (Pakistan News)

Warid Telecom recently  allied with Bank Alfalah Limited to launch its innovative Mobile Financial Service which goes  by the name of “Chalta Rahey Pakistan”. With this new service Warid telecom will enable its customers to fulfill their banking needs on the go by the mere use of their phone. Bank Alfalah Limited partnered with Monet (Pvt.) in order to offer branchless banking solutions to banks in Pakistan.

In the initial phase ‘Mobile Paisa’ will offer services such as payment of utility bills on the go along with swift and secure money transfers throughout Pakistan. Warid Telecom’s Chief Commercial Officer, Mr. Younas Sheikh further illuminated this point and commended the efforts made by Bank Alfalah to partner with Warid telecom to provide its customers with modern financial needs.

Bank Alfalah Limited’s Head of Branchless Banking Mr. Amaar also commented on “Mobile paisa” and termed it as a step into the future. He also said it was necessary to keep up with the new technological advancements and “Mobile Paisa” provided the ideal opportunity to do so.

Discussing ‘Mobile Paisa’, Monet’s CEO Mr. Ali Abbass Sikander stated, “Monet envisions a collaborative branchless banking environment which enables the larger financial inclusion agenda set forth by the State Bank of Pakistan. We, at Monet, facilitate existing and new players alike in their efforts to promote branchless banking. Warid Telecom and Bank Alfalah’s collaboration for ‘Mobile Paisa’ is an ideal platform providing branchless banking together and interconnect with other existing players to extend the benefits to a wider audience.”

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.

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