Visa to launch mobile financial services product in Pakistan

Launching service in Pakistan

According to a report, Visa’s subsidiary Fundamo, which is a platform provider of mobile financial services for MNOs and financial institutions in developing economies, is on the verge of launching a mobile financial services platform in Pakistan.  

Moreover, the product looks set to incorporate retail electronic payments processing network VisaNet technology as well as function on ‘interoperability model’.

“It is different from 1Link in the sense that one doesn’t need to go to an Automated Teller Machine or a Point of Sale for a transaction,” a source said. “It’s not specific to a particular bank or a cellular service provider, all you need is a Visa card,” he said.

“One can use the information on his Visa card – the security code for example – and complete the transaction from his mobile phone,” he added.

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