Telenor to invest in Mobile Banking

Telenor Pakistan participated in ‘Mobile Commerce 2009 – The 2nd International Conference on Mobile Banking’. The conference discussed the prospects of mobile commerce in Pakistan. Telenor Pakistan, already ahead of the telecommunications industry after acquiring Tameer Bank, is set to lead mobile banking in Pakistan. President & CEO, Jon Eddy Abdullah was one of the speakers at the conference.

Speaking on this occasion Jon Eddy Abdullah said, “I am sure that with the support of regulators and collaboration between telcos and banks, the industry will be able to provide consumers what they need: easy, affordable access to financial services. Telenor Pakistan is excited to promote this phenomenon, which is evident from our partnership with Tameer Bank.”

Prominent figures from the corporate sector were present at the conference to discuss the scope, possibilities and challenges of Mobile Commerce (M-Commerce) and Mobile Banking (M-Banking) in Pakistan. Participants discussed different aspects of the ‘M’ culture in Pakistan including VAS, Branchless Banking, mPayments, ePayments and Security Challenges. The forum was later opened for questions from the participants.

Mobile Banking brings with it facilities such as paper/plastic-free money transactions, bank account maintenance, money transfer, mobile sales, auctions, brokerage and much more. Pakistan has an enormous potential for m-banking with over 80 million mobile users. The lack of a sound banking structure reaching out to only a selected class widens the play area for the mobile sector to explore.

Telenor Pakistan believes in offering customers  and exciting innovations. By acquiring Tameer Microfinance Bank in the current economic crunch, Telenor Pakistan not only reassured its commitment to Pakistan and the industry but also projected its intentions to remain ahead of competition when it comes to product innovation.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK

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