Pakistan’s Digital Payment Channels Process 88% of Retail Transactions, Showing Strong Growth in Q2-FY25

Pakistan’s digital payment channels processed 88% of retail transactions in Q2-FY25, with a 12% increase in transaction volume and a 28% rise in value. Mobile banking apps, e-money wallets, and branchless banking services played a pivotal role in driving growth. SBP’s initiatives continue to fuel financial inclusion and efficiency.

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Bank Alfalah and Warid Telecom have launched Mobile Paisa, a mobile money service in Pakistan. The service enables secure money transfers and utility bill payments. Supported by technology from Fundamo and Monet, Mobile Paisa aims to enhance convenience and security for everyday financial transactions across the country.

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Boubyan Bank’s SME Strategy: Digital Transformation and Empowerment for Growth

Boubyan Bank’s SME strategy focuses on customer-centricity, digital innovation, and financial empowerment. The bank leverages technology to offer seamless financial tools, including the Payout API and eRent, while providing tailored services such as Sharia-compliant financing and mentorship. Boubyan aims to enhance the SME ecosystem and become a regional banking benchmark.

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NPCI Partners with Fonepay to Launch UPI Cross-Border Payments Between India and Nepal

NPCI International Payments Ltd (NIPL) has partnered with Fonepay to launch UPI-enabled cross-border payments between India and Nepal. Indian consumers can now make UPI payments in Nepal, while Nepalese merchants can accept UPI payments from Indian customers, fostering stronger economic ties and enhancing digital payment integration between the nations.

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