Published on July 31st, 2017 | by Telecom PK0
SimSim opening up new avenues for the unbanked market
SimSim, Pakistan’s first free mobile wallet, had its official launch at the Mohata Palace, Karachi. It is highly anticipated that SimSim will boost Pakistan’s financial inclusion by digitizing the economy. Considering how 75% of Pakistan is unbanked, SimSim has successfully introduced an avenue where a mobile number and CNIC is all you need to make an account. From there on, the process is simple.
At the Mohata Palace, SimSim hosted a Qawali night, where notable leaders of the finance industry were introduced to the digital wallet movement. The attendees were also familiarized to the application’s straightforward functionality; a mechanism any person of any social standing can use. CEO Monus Rehman(Rozee.pk) and CEO Andree Simon (FINCA Impact) had the opportunity to enjoy the grandeur of the venue and the music of Qawals at the event.
The night was a major success for SimSim, as it marks the breakthrough of digital payments in Pakistan. Other digital payment methods do exist and have existed, however few have had such a vast vision as that of SimSim. SimSim is more than an application, it’s a movement that empowers Pakistanis through an ecosystem that they can build themselves, around their needs. According to Qasif Shahid, CEO of FINJA Pvt. Limited, “Mobile wallets are going to do to bank accounts what mobiles did to landlines.” This mobile wallet is now everyone’s birth right and not a privilege anymore.
A collaboration between FINCA Microfinance Bank Limited and FINJA Pvt. Limited, SimSim makes tasks like paying utility bills, mobile top-ups, sending funds, buying gift cards and making online payments a simply easy procedure. But for the people in attendance at the launch, SimSim is much more than that. It aspires to be a widespread network through which daily transactions take place and on a larger scale, allows the smooth and easy running of the economy. To be a part of SimSim’s network, all one has to do is download the app from Apple’s App Store or Google Play Store to set up their wallet.