Published on March 14th, 2009 | by Arsalan Mir10
PTA in collaboration with Total Telecom organised “The Second International Conference on Mobile Banking” on 12 March at Marriot Hotel Karachi. Primary aspiration was to explore potential opportunities across mobile commerce sector in the country. Representatives from State Bank of Pakistan, Banks, Financial Institutions, Ministry of IT, Cellular Operators, Software Houses, ICT consultants and academicians attended to impart their invaluable input and expertise on the subject.
On this occasion, Telenor Pakistan expressed interest for investment in Mobile Banking sector. The President and CEO, Jon Eddy Abdullah, was one of the speakers at the conference. He said on the occasion that he was 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.
Abdullah said that Telenor Pakistan is excited to promote this phenomenon, which is evident its 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 statement pointed out that the 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 90 million mobile user whereas there are only 26 million Bank Accounts holder in Pakistan and that is why Pakistan has great potential for Mobile Banking and to bring un-bank people in the Banking fold. This was stated by Atif Aslam Bajwa President MCB Bank Limited.
Bajwa further said that through M-Banking we can introduce branchless banking in Pakistan as beside all literacy problem a great number of population is numerically educated due to mobile phone. Dr. Muhammad Yaseen Chairman PTA said that the focus of Cellular Operators is Voice and not on other value added services. Through Mobile Banking Cellular Operators can offer a great value added service to their Customers.
People have to make queue for making payment of their utility bills and through M-Banking it can be done in seconds. He also said that it is necessary to take security measures for making transaction secure i.e. Digital Signature Authentication. Jameel Ahmed Executive Director State Bank said that M-Banking will surely provide great advantages to Banking Sector of Pakistan as Banking will not be restricted to Branches after introduction of M-Banking and surely provide Banking to un-bank people.
Saad M Warriach Country Director Nokia Siemens said that through M-Banking touch point can be provided to a large number of population and M-Banking will be more effective for Micro Finance and rural population. Hassan Khan Head of Security Practice MEA Nokia Siemens, also elaborated scope of m-banking.
Rizwan Munawar Senior Regional Manager ORACLE emphasized on the security aspect of M-Banking and elaborated the measures should be taken to secure transaction through Mobile Device. Abrar Mir E Commerce Global Head UBL said that at present most of the Pakistani are using Mobile for Balance and Statement query however mobile can serve more through WAP enabled services for transaction and making payments.
The future of M-commerce and M-banking in Pakistan is promising what is awaited is the practical implementation of it.