SBP Develops 'Universal': A Mobile App for Financial Transactions

SBP Develops ‘Universal’: A Mobile App for Financial Transactions

The State Bank of Pakistan (SBP) has made a mobile phone application that will let the users to make financial transactions within the country. The executive director of State Bank, Syed Samar Hasnain revealed that Asaan Mobile Account will provide one platform to all bank account holders on different mobile phones networks. This will help them to make financial transactions with anyone across the country. The news of  SBP Develops ‘Universal’: A Mobile App for Financial Transactions has been confirmed by higher officials.

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The director announced that App will be launched in June 2017, while speaking at the re branding of Tameer Microfinance bank. He revealed that smartphone is not necessary to use this App. People with simple feature phone can also be benefited from this App.

SBP Develops ‘Universal’: A Mobile App for Financial Transactions

Hasnain Said:

People could pay their utility bills, while firms could disburse salaries and pensions via that application. The application would also help people make payments to their dry cleaner, milk vendor, barber and etc

AMA would allow phone users to open their accounts in two minutes. It would bear a cost of Rs10 to verify information about the account opener. This App will help the developing economic system in the country. Syed Samar told that the theme of App will reduce transactions in hard cash. It will also avoid the chances of money theft.

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