ISLAMABAD: The Mobilink Microfinance Bank Ltd (MMBL) has taken another step towards expanding its reach across Pakistan by partnering with CASH1, which is owned by Webdnaworks Private Limited.
Webdnaworks is the pioneer of Independent ATM deployment and operations in Pakistan and is the first non-banking entity to get the State Bank of Pakistan’s licence of Payment Service Operator (PSO) and Payment Service Provider (PSP) for the deployment of Off-Site ATMs under the brand CASH1.
As part of this joint initiative, CASH1 will be providing off-site ATM deployment services to MMBL, enabling the bank to broaden its outreach and enhance its service in far-flung areas where customers lack adequate access to basic facilities and infrastructure, thereby increasing access to financial services for those who have been traditionally un-served and underserved.
The deployment of Off-Site ATMs will provide greater convenience and accessibility to customers, allowing them to access their accounts and conduct transactions at any time. This is an important step towards increasing financial inclusion. It will allow MMBL to serve a larger number of customers, particularly those in remote and hard-to-reach areas across the country, and implement the State Bank of Pakistan’s National Financial Inclusion Strategy (NFIS).
Sharing his thoughts at the signing ceremony, Ghazanfar Azzam, President, and CEO MMBL said, “We are excited about this partnership with CASH1, as it will enable us to extend our reach even further and provide greater convenience and accessibility to our customers. Deploying CASH1 ATM services is critical to MMBLs mission to improve financial inclusion in Pakistan. Under this partnership, the Bank strives to offer flexible banking services to previously underserved communities and is confident that it will provide reliable and efficient ATM services to all its customers while bridging the gap between the formal banking sector and the unbanked population.”
On the occasion of the signing ceremony, Qamar Abbas, Executive Director of Webdnaworks Private Ltd said, “We are delighted to roll out our bank-in-the-box business model that will go some way to digitize cash-out payment to the general public, not only in the major cities but also in the rural areas of Pakistan through this partnership with MMBL.”
As part of its unwavering commitment to expanding financial inclusion and addressing the banking needs of underserved communities, MMBL has also launched several other offerings, including the DOST App making its services more accessible to customers across the country. By teaming up with CASH1, MMBL has yet again demonstrated its dedication to increasing its services’ speed and flexibility while extending its reach to previously inaccessible areas.
Copyright Business Recorder, 2023
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