STAFF REPORT ISB: Mobicash has introduced Near Field Communication (NFC) payment solution to the consumers. The start of the initiative also marked the company to be the only Mobile Financial Service (MFS) provider to offer such solution. The mobile account users can utilize the facility on vending machines.
The Mobicash signed official agreements with Batwa and Wavetec in a ceremony held recently. The consumers will be able to procure items from Wavetec`s NFC enabled vending machines. The machines will be installed at various locations across the country to provide easy access to consumers.
Aniqa Afzal Sandhu, Director Mobile Financial services Mobilink shared his thoughts on launching of MFS, “NFC based payment solutions unearths countless opportunities to allow our 1.5 million strong Mobicash mobile account consumers family to use NFC technology to pay for daily transactions, starting with these NFC based vending machines. As a strong proponent of branchless banking in the country with a vision to mollify the prevalent division between the banked and unbanked population, we firmly believe the rapid growth of NFC based payment solutions is for the benefit of a cashless ecosystem”.
NFC enabled retail payment solutions are also in the pipeline which will be launched across Pakistan in coming months.